China's Xuchang launches talent reward plan to attract entrepreneurs and professionals with 3 million-yuan cash incentive + 50 million yuan in investment
XUCHANG, China, Jan. 11, 2018 /PRNewswire/ — The municipal government of Xuchang, China has launched an incentivized talent recruitment program to attract high-level entrepreneurs and professionals to the city as well as to retain them and keep them motivated once they have settled here. The government will provide cash awards of up to 3 million yuan (approx. USD 450,000) and investment funds up to 50 million yuan (approx. USD 7.5 million) to top-notch personnel, especially individuals with skills in smart manufacturing, new materials, electronic information technology, the Internet, big data, new energy, energy conservation and environmental protection, as well as the new and emerging biomedical sector, as part of an effort in facilitating the development of strategic emerging industries as well as an upgrade of the city’s traditional industries.
Xuchang Yingcai Plan
Xuchang, a prefecture-level city in central Henan province in Central China, has a total population of 4.89 million, in addition to a convenient transportation network, with direct access to the country’s first-tier cities of Beijing, Shanghai, Guangzhou and Shenzhen via air and high-speed rail. The city is a 30-minute train journey from Zhengzhou, the provincial capital. Xuchang boasts competence in the manufacture of advanced power and electronics equipment, a leading position in industrial development, comprehensive competitiveness across most economic sectors, a comfortable living environment and a favorable business climate. The sum of qualifications makes Xuchang one of the most dynamic cities with the highest potential in China.
The city aims to attract three categories of talented individuals: industry leaders, high-level professionals and individuals with skillsets or competencies that are in short supply. The plan will provide qualified individuals or groups of individuals cash rewards of 1 million yuan (approx. USD 150,000), 2 million yuan (approx. USD 300,000) and 3 million yuan (approx. USD 450,000) based on meeting specific qualifications, as well as project start-up investment of 2.2 million yuan (approx. USD 350,000), 1.5 million yuan (approx. USD 225,000) and 800,000 yuan (approx. USD 125,000) according to the category.
In addition, entrepreneurial individuals or teams relocating to the city will be entitled to up to 50 million yuan (approx. USD 7.5 million) in equity investment. Projects receiving social venture capital will be entitled to follow-up venture capital, valued at 10-30 per cent of their total investment up to 10 million yuan (approx. USD 1.5 million). The government will provide underfunded projects in the medium development stage or early industrialization stage with a financing loan guarantee of up to 5 million yuan (approx. USD 750,000).
Furthermore, industry leaders, high-level professionals and individuals with skillsets or competencies that are in short supply will be entitled to 500 square meters, 300 square meters and 200 square meters of office space, respectively, rent-free for the first three years for their start up. Plots of land will be provided on a priority basis based on availability for projects requiring manufacturing processes. Subsidies for relocation, living expenses and individual income tax will also be available.
The Xuchang Municipal Technology Bureau is in charge of application process. Interested parties, no matter where they are located, may apply:
For more information contact:
+86-1340-9353-268 or +86-37-4296-5016
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SOURCE Xuchang Government