Dahua Yao autonomous county in Hechi, Guangxi, held a loan releasing ceremony on Sept 4 for youth startup and employment.

In recent years, high loan interest rates and strict loan requirements have become stumbling blocks for youth startups. Dahua Yao autonomous county accordingly created a guarantee model, improving the credit system and regulating loan rates flexibly by cooperating with local financial departments to provide young people with a better development platform.

In the ceremony, 20 young entrepreneurs received start-up loans totaling 1.3 million yuan ($212,000).