Shenzhen Says It Plans to Spend Billions to Attract Talent

Kang Shu:

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.