Govt provides financial help, consulting services to startups

New Yiwu Industrial and Commercial College graduate Wang Peng still remembers the concerns he had when he wanted to start his own business on campus.

"I had no money, no experience, no idea what I could do and what I needed to do," Wang said. "I was worried whether I would actually earn money or just keep losing it."

Wang got through the anxiety by following suggestions from peers who were also eager to start businesses. Now he runs an e-commerce company with eight employees in Jiangsu province. When he graduated in June, the annual sales of his company had passed 1 million yuan ($162,500).