China Loans US$28.9 Billion to Female Entrepreneurs

Song Xiuyan, vice president and first member of the Secretariat of the All-China Women's Federation (ACWF), delivers a key-note speech at the 2014 APEC High Level Policy Dialogue on Women and the Economy, under the 2014 APEC Women and the Economy Forum held in Beijing on May 22. [Women of China/ Fan Wenjun]

The total loans-without-interest released for women's small and medium-size entrepreneurial projects have accumulated to 180 billion yuan (U.S. $28.9 billion) in China, with government-financed loans reaching 11.3 billion yuan (U.S. $1.8 billion) since 2009.

This data was released by Song Xiuyan, vice president and first member of the Secretariat of the All-China Women's Federation (ACWF), when she delivered a key-note speech at the 2014 APEC High Level Policy Dialogue on Women and the Economy, under the 2014 APEC Women and the Economy Forum held in Beijing on May 22.

Song said, in order to solve the fund shortage faced by millions of women in China in their efforts to alleviate poverty or to start their own business, the Chinese government has issued small-amount secured loans based on the financial discount policy since 2009. This has effectively supported millions of women in their employment and entrepreneurship.

Song noted that China has the largest population of women in the world. After the three decades long opening-up and reform policy, China has entered a new phase with the need to change its development mode. During this process, women's role in economic development has become more and more important. Women's development is seen as an important part of the whole nation's economic and social development plan.

Song said that the Chinese government has supported women in order to make good use of economic factors, including fund and land management, through legislation and policy support. The government has strengthened training and guidance work on enhancing women's vocational skills, and promoted women's economic empowerment through developing professional organizations and the introduction of specialized projects.

However, Song also noted: "Women in China are still facing many problems and challenges in sharing the economic resources and economic income distribution. For example, women are mainly in a lower level of employment in the labor market. And there is still gender discrimination and an income gap existing between men and women in the labor market. So we still need to work harder to solve these issues in the future."

The APEC Women and the Economy Forum is one of the ministerial-level meetings of the Asia-Pacific Economic Cooperation (APEC). More than 300 delegations from the 20 member economies of APEC, the APEC Secretariat, and the APEC Business Advisory Council attended this year's forum, which was held in Beijing from May 21-23, 2014. The theme of this year's forum is to 'Unite women's strength and boost the Asia-Pacific Economy'.

Source: Xinhua/ Translated end edited by Women of China