Yangzhou offers new financial support to start-ups

An innovation and entrepreneurship competition held in Yangzhou, Jiangsu province in 2017. [Photo/xhby.net]

Yangzhou, a central city of Jiangsu province, outlined new rules on March 8 offering financial support to high-end talents and their start-up businesses. 

The rules are available to three kinds of talents. The first kind focuses on people who have been included in various national, provincial and municipal level talent cultivation programs such as the national Recruitment Program of Global Experts (Thousand Talents Program). 

The second kind targets people having industry-leading or technologically advanced products. The third kind is for people meeting other specifications. 

The rules will offer customized financial support to talents during their different stages of entrepreneurship to help them broaden financing channels, lower financing costs, and accelerate financing speed. 

The entrepreneurs can apply for a maximum of five million yuan ($788,600) for their businesses.