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back to index backGLOBALtalk June,  2016


Shenzhen Says It Plans to Spend Billions to Attract Talent

Southern city goes so far as to say it'll pay top scientists and researchers 6 million yuan as soon as they get to town.

Shenzhen's government has doubled this year's budget for programs related to attracting talented people to the city to 4.4 billion yuan this year in a bid to attract more academics and professionals to help nurture innovation.

The city government, which announced the plans through media outlets on March 21, made especially rich offers to top talents. It defined those as world-class scientists and researchers who have led nationally or internationally acclaimed research projects.

Shenzhen gave those luminaries three options should they come to the city. The first was a one-off cash payment of 6 million yuan. The second was a 10-year lease on a 200 square meter apartment, which could be kept if the person stayed for the entire period. That offer also included local household registration privileges, which entitle the holder to health care, education and other public services. The final option was 10 million yuan in cash and benefits, payable after 10 years.

Members of top research institutions in some developed countries and China, such as the Chinese Academy of Sciences and Chinese Academy of Engineering, are considered "top talents," the government said.

Shenzhen has been leading the charge to lure trained professionals and academics to town in a bid to help nurture new engines of growth via innovation and entrepreneurship as the economy continues to slow.

The ruling Communist Party released a document on March 23 that called for governments at all levels to continue improving talent development policies. Part of this was a call to trim bureaucracy so professionals had more freedom to work.

Shenzhen said it also hoped to attract other people with good skills and qualifications, including recent university graduates. For example, people with a bachelor's degree were offered 15,000 yuan in one-off housing subsidies to move to the city. Those with a master's degree or a PhD were offered similar benefits of 25,000 and 30,000 yuan, respectively, if they land a job in the city.

The government also pledged to make 10,000 flats available over the next five years for the skilled professionals from all over the world.

Qualified professionals were told they could also apply for government-subsidized homes that are usually available only to people who have made pension and medical insurance contributions for at least three years.

Source: CaixinOnline - GAI






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