If you're a recent university graduate, you can register your company with a 90 percent discount on start-up capital in Shanghai this summer.

An overseas graduate employment service agency in Shanghai's Yangpu District said it has already helped graduates set up over 100 enterprises since last year.

With about US$1,200, graduates can start up their business ranging from design to mechanical production, but they have to pay the rest of the start-up capital in three years or face bankruptcy.

The employment service also provides financial consulting for graduates to reduce their operational costs and risks.

(CRIENGLISH.com July 13, 2004)