BEIJING — Over 7 million Chinese migrant workers have returned to their hometowns to start their own businesses, official data showed.
Entrepreneurship is a growing trend as about 11 percent of migrant workers who returned to the rural areas chose to start their own businesses in the fourth quarter of 2017, according to the Ministry of Human Resources and Social Security.
These businesses covered not only agriculture, but also tertiary and other industries, according to the ministry.
Each new entrepreneur helps boost local employment by offering jobs to about four people on average.
However, rural startups still face challenges in seeking financing and land, the ministry pointed out.
Migrant workers, college students, and veteran soldiers who choose to start businesses in rural areas will enjoy the same policy incentives as local residents, according to a decision at a State Council executive meeting chaired by Premier Li Keqiang on Jan 18.
Meanwhile, returning migrant workers whose startups have been running for one year or longer will be eligible for a lump sum subsidy. Where public finances allow, rural startups will also be entitled to subsidies for bringing back or purchasing production equipment.