Recently,China’s 10 major events about employment and local employment innovation in2018 have been announced. “The credit payment system for the entrepreneurshiptraining of college and university students in Jingzhou, which aims tostrengthen the organization, supervision and subsidy payment of the entrepreneurshiptraining”, is listed among them. Since the system started to be applied inSeptember last year, 5,315 college and university students have assignedcredit, of which 4,584 have been paid subsidies totaling 3.6672 million yuan afterqualifying.

Inorder to standardize the management of entrepreneurship training and simplifythe application process for a training subsidy, the Municipal Human Resourcesand Social Security Bureau and the Municipal Bureau of Finance jointly issuedthe Trial Measures for Implementation andManagement of Personal Credit Accounts for the Entrepreneurship Training ofStudents from Jingzhou’s Municipal Universities and Colleges last June, andindependently developed a credit payment system for the entrepreneurshiptraining of college and university students. This is the first innovativemeasure across the province taken to meet the requirement set by the ProvincialHuman Resources and Social Security Bureau and the Provincial Bureau of Financeto “explore ways to establish personal credit accounts for the vocationaltraining of workers and pay training fees through these accounts”.

Thecredit payment system for the entrepreneurship training of college anduniversity students developed by our city has allowed college and universitystudents to take part in entrepreneurship training by means of “credit payment”,which means, a university or college student can participate in anentrepreneurship training session by his/her credit account at a designated municipaltraining institution. The limit of the credit payment account is 1,200 yuan,and 800 yuan will be paid out after he/she qualifies. The remaining 400 yuanwill be paid out if he/she starts a business successfully within 6 months afterqualifying by showing the business license.

Thesystem also shares information among individual students, colleges anduniversities, designated training institutions, the Human Resources and SocialSecurity Bureau and the Bureau of Finance, and synchronizes relevant information,such as applications for entrepreneurship training, records of supervision and applicationsfor subsidies and verifications, with the data of the Hubei Public EmploymentService System. As the organization, supervision and subsidy payment oftraining and other processes are integrated online, college and universitystudents can enjoy a simplified procedure for obtaining subsidies and allprocesses are recorded for tracing.