The Mount Tai Financial Summit Forum and the launch ceremony of "Taishan Jinrong Cup" Youth Business Development Competition takes place in the city of Tai'an, Shandong province on Oct 24. [Photo by Wang Qian/ China Daily]

The Mount Tai Financial Summit Forum and the launch ceremony of "Taishan Jinrong Cup" Youth Business Development Competition took place in the city of Tai'an, Shandong province on Oct 24. Officials of the local government and experts in financial area were at the event.

The financial event is co-sponsored by several Tai’an local enterprise, entrepreneur organizations and companies.

Zhang Qingming, special advisor of Tai’an government, said that the event is an important platform for young entrepreneurs to show their programs and get access to capital. And, the event not only helps them to make debuts in the society but also provides chances to exercise their entrepreneurial ability, store up knowledge for entrepreneurship, change their ideas and attitudes in time.

Zhang also affirmed that the current generation has their own unique insights and innovative ideas, but at the same time they are void of experience, technology and funds.

Xiao Kai, CEO of Taishan Jinrong Company, which is one of the sponsors of the event, introduced the preparations for the Youth Business Development Competition. The competition is divided into six stages including the promotion and enrolment part, tour to universities, preliminary period, entrepreneurship training camp, the final competition and the award ceremony. It will last until the end of this December.

The competition will finally pick up sixty young minds to have training on their entrepreneurial ability and build up a pool of talent and programs. It will also provide services for them after their entrepreneurial programs to help them for better development including training, pioneering instructions, venture investment and business incubation.

The winners will get cooperation letters of intent during the award ceremony, scheduled to be held on Dec 31. Group winners will get 30,000 to 80,000 yuan prizes, and a total of 20 million yuan soft loan are available for them. Each one will be eligible up to 500,000 yuan, for single program.

In addition, Liu Shimin, an expert on China’s real economy and capital operation was invited to give a speech on the theme of industry, Internet and finance on the occasion. He advised on entrepreneurial pattern to the present young entrepreneurs and analyzed the current development trend on four dimensions of engine, industries, Internet and finance.