Loans of up to Yn20,000 will be available to those without jobs to help them set up their own businesses, AFP reported. The People's Bank of China said the finance and labour ministries and the State Economic and Commerce Commission had jointly directed the central bank to allow commercial banks to approve loans for those under 60 with professional qualifications.
Two-thirds of the 22m urban unemployed job seekers can't find work, according to the Economic and Trade Commissioner Li Rongrong, quoted by Economic Daily. Only 9.1 per cent of workers made redundant from state companies found work in the first half of 2002, down from half in 1998.
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