The Department of Commerce of Hunan Province and the Department of Agriculture and Rural Affairs of Hunan Province recently issued a plan for Hunan-born entrepreneurs returning to their hometowns and starting businesses in 2024. The plan outlined that Hunan will welcome more than 1,000 newly-registered enterprises led by returning Hunan-born entrepreneurs, drawing in investments of over 500 billion yuan in 2024.

The province will actively reach out to Hunan-born entrepreneurs based outside the province as well as their hometown counterparts to provide accurate information for matchmaking. The plan proposed to take advantage of large traditional festivals when Hunan-born entrepreneurs and migrant workers return home on a large scale, to publicize local industrial sectors, development advantages, business environment and other information, and to learn about needs, opinions, and suggestions for entrepreneurship. Economic and trade activities such as the Expo Central China and the China-ASEAN Expo will help to promote Hunan-born entrepreneurs returning to their hometowns as well as Hunan products going global in an integrated way. Matchmaking with Hunan businesses and Hunanese associations in other places will be enhanced to advance the collaborative return of Hunan-born entrepreneurs, talents, and wisdom to the province.

"One-stop" guidance services will be offered to continue to optimize the business environment. The plan sought to improve the skills of the returnees, with various entrepreneurship training programs, providing at least 20,000 trainee opportunities provincewide annually, and at least 100 opportunities for trainees in counties, county-level cities and districts. The provincial, municipal, and county level authorities plan to coordinate agriculture-related funds to cultivate the entrepreneurial entities of returning Hunan-born entrepreneurs. Among these, the amount of funds to support the returning Hunan-born entrepreneurship for competitive projects of industrial integration at the provincial level or above will be set at 10% or more of the annual provincial project (tasks) budget allocation.

Meanwhile, the returnees are encouraged to extend the agricultural industrial chain and start businesses in such fields as agricultural supplies, agricultural product processing, rural pensions and childcare, and rural e-commerce. According to the plan, in 2024, Hunan will increase the proportion of newly returning entrepreneurial business entities by 2% of the total number of migrant workers and entrepreneurs.

This article is from the Hunan Provincial Government www.enghunan.gov.cn.

Translator: Yu Jiangjiang

Chinese source: hunan.gov.cn