The “Postal Savings Bank Cup” — Second Hunan Youth Innovation and Entrepreneurship Competition is officially launched at Hunan University on the morning of Sept. 7.

Vice Governor of Hunan Province Cai Zhenhong announces the official start of the “Postal Savings Bank Cup” — Second Hunan Youth Innovation and Entrepreneurship Competition.

HNU student presentative delivers a speech.

The “Postal Savings Bank of China Cup” — Second Hunan Youth Innovation and Entrepreneurship Competition was launched at Hunan University on the morning of Sept. 7. Vice Governor of Hunan Province Cai Zhenhong attended the launching ceremony.

The competition is the biggest platform for young people to make innovation and start business in Hunan at present. It is jointly hosted by the Hunan Provincial Committee of the Communist Youth League, the Department of Finance of Hunan Province, the Hunan Office of China Bank Regulatory Commission and Hunan Branch of Postal Savings Bank of China (PSBC).

It is open to individuals with Hunan household registration who are under 35 years old and have started business in Hunan. Teams with good projects may also apply. It can be applied at the official website of China Youth Innovation and Entrepreneurship Competition (http://cxcyds.zgqncyxd.cn/). The organizing committee will hold tryouts and the final throughout the province to select prize winners from September to November.

Based on the plan, the winners of first prize, second prize and third prize will be granted with 150,000 yuan, 100,000 yuan and 50,000 yuan respectively. PSBC Hunan Branch views the competition as an opportunity to provide financing support for young entrepreneurs and pioneering enterprises. The provided line of credit exceeding 5 billion yuan includes start-up loan, individual business loans and small business loans.

Source: enghunan.gov.cn