Graduates offered business subsidies

SHANGHAI: University students and new graduates in Hangzhou are being offered government subsidies of up to 200,000 yuan ($29,000) to set up their own businesses, a labor official said on Monday.

Wu Xiujun, from the Hangzhou labor bureau, said: "We will evaluate their business plans and grant subsidies of between 20,000 yuan and 200,000 yuan."

People should submit their plans and feasibility reports to an expert panel for approval, she said.