In recent years, Qingdao Municipal Finance Department has fully exerted in fully supporting guaranteed loans for start-ups in accordance with the principles of high starting point, high architecture and wide inclusiveness. Up to now, the financial institutions in the city have issued 19,800 guaranteed loans for start-ups, worth 2.5 billion yuan. The loans have been used to promote entrepreneurship, and promote employment of more than 66,000 persons. With such practical actions, the Municipal Finance Department supports the development of the private economy, and promotes mass entrepreneurship.
Within such process, Qingdao Municipal Government is stickily focusing on three main elements: First is to increase policy support and help break the bottleneck in venture financing; Second is to improve the guarantee support system to reduce the cost of venture financing.; Third to innovate the credit guarantee model to lower the threshold for venture financing.