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Loans to help overseas employment in Yunnan

Source:   Time:

A contract singing ceremony for loans to help overseas employment was held yesterday in Kunming. The Business Cooperation Framework Agreement was signed by Yunnan Provincial Department of Commerce, Kunming Branch of Shanghai Pudong Development Bank and an investment guarantee corporation in Yunnan. Loan services for Yunnan’s workers employed abroad have been activated during the period.

Yunnan’s workers employed abroad who are short of money can apply for loans abroad. Loan project include training fees that workers will receive formal relevant training programs before they go abroad. Other expenses, such as margin, passport and visa will also be included in the loans.

Statistics show that 21 labor export bases for laborers abroad have been established in Yunnan from 2007 to now, with an average laborers training capacity of 20000 per time. Yunnan’s migrant workers who are working aboard reached 56632, and outbound labor generated revenue of $ 453 million.

According to the Ministry of Commerce, 714,800 Chinese had been hired to work overseas by the end of March 2010, "China's labor export scale has shrunk in recent years because of the financial crisis, but it is short-lived. The number of Chinese overseas migrant workers could increase to more than 1 million in a few years.

In Asia, Japan accounts for 30 percent of those Chinese workers, South Korea 18 percent and Singapore about 14 percent. Chinese people work everywhere - the US, Canada, Israel - but large numbers also go to Japan, South Korea and Singapore.

Similar examples have been reported from many other cities. Since 2007, qualified migrant workers in Shandong have been able to apply for a two-year loan of 50,000 yuan from credit unions to pay up-front costs. And in Chongqing, the municipal government now provides one-year loans of 40,000 yuan to residents looking to work abroad. "The government encourages Chinese to work abroad.

Lower borrowing costs and simplified exit formalities would offer a huge incentive to mainlanders to work in foreign countries.

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