Aerial photo taken on Sept 17, 2020 shows the Houhai area in Nanshan district of Shenzhen, south China's Guangdong province. (PHOTO / XINHUA)
Shenzhen has started implementing a slew of measures to provide Hong Kong and Macao youths with support if they work or set up a business in the city.
The move aims to help young people from the two special administrative regions better integrate into the Guangdong-Hong Kong-Macao Greater Bay Area and develop their careers across the border.
Those who work under the Greater Bay Area Youth Employment Scheme launched by the HKSAR government can enjoy a monthly living subsidy of no more than 1,000 yuan each for 18 months at most
According to the government document jointly formulated by Shenzhen’s human resources and social security, fiscal, and tax departments, as well as the Hong Kong and Macao Affairs Office in Shenzhen, various subsidies will be offered to Hong Kong and Macao youths, including subsidies for social insurance, grassroots work, internships, vocational training, and individual income tax.
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For example, qualified university graduates from Hong Kong and Macao will be able to apply for 3,000 yuan ($433) each if they work for a small or individual business, social organization, or work in a social management and public services post in the community.
Those who work under the Greater Bay Area Youth Employment Scheme launched by the HKSAR government can enjoy a monthly living subsidy of no more than 1,000 yuan each for 18 months at most.
A green channel for professional title evaluations of international talent will be set up for Hong Kong and Macao youths, according to the policy. Vocational skills certificates obtained outside the Chinese mainland will be directly recognized in Shenzhen.
Hong Kong and Macao youths who set up a business in Shenzhen will also be provided with subsidies in social insurance and rental payments, employment, loans, incubation and so forth.
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A one-off startup subsidy of 10,000 yuan will be granted to each person who pays social insurance at the startup for more than six consecutive months.
For entrepreneurs who are short of funding, Shenzhen will provide no more than 600,000 yuan in guaranteed loans for a business they are setting up on their own.