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China loans more to small businesses to boost employment

China's central bank has more than doubled the amount entrepreneurs and small businesses can borrow as part of efforts to boost employment, officials said.

The maximum amount that can be loaned to individuals for business purposes was raised to 50,000 yuan Yuan (yüän), river, 540 mi (869 km) long, rising in S Guizhou prov. and flowing generally NE to Donting lake, Hunan prov., SE China. Navigation above Changde is limited by rapids to small craft.  (7,300 dollars) from 20,000 yuan, the People's Bank of China The People's Bank of China (PBC or PBOC) (Simplified Chinese: 中国人民银行; Traditional Chinese:  said in a statement posted on its website late Monday.

The limit on loans to labour-intensive small businesses was doubled to two million yuan from one million yuan, according to according to
prep.
1. As stated or indicated by; on the authority of: according to historians.

2. In keeping with: according to instructions.

3.
 the notice distributed to local authorities and banks earlier this month.

"(We) need to enhance the policy support for labour-intensive small enterprises, prompt them to hire more jobless job·less  
adj.
1. Having no job.

2. Of or relating to those who have no jobs.

n. (used with a pl. verb)
Unemployed people considered as a group. Used with the.
 people," the central bank said.

Some small businesses in China have been forced to shut down after being hit by slowing export growth and the government's tighter credit conditions aimed at fighting inflation.

The large number of small businesses going bankrupt BANKRUPT. A person who has done, or suffered some act to be done, which is by law declared an act of bankruptcy; in such case he may be declared a bankrupt.
     2. It is proper to notice that there is much difference between a bankrupt and an insolvent.
 -- many of them focused on labour-intensive products for export like textile and toys -- has raised unemployment and concerns about possible social instability.

Beijing has long said the official unemployment rate remains below five percent.
Copyright 2008 AFP Global Edition
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Author:AFP
Publication:AFP Global Edition
Date:Aug 19, 2008
Words:186
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