Area searches for overseas professionals to grow economy
The Qianhai Shenzhen-Hong Kong Modern Service Industry Cooperation Zone is seeking to attract skilled staff with a policy that offers tax subsidies.
More than 70 employees shared 20 million yuan ($3.13 million) in personal income tax subsidies in 2014, of which the highest personal subsidy was 1.68 million yuan.
According to the zone's policy for talents, which was issued in early 2013, professionals considered to be high-level talents or with skills in great need will be taxed just 15 percent of their personal income. The highest tax rate can reach as high as 45 percent but the local government will subsidize desired staff.
According to the Qianhai Authority, almost half of the 71 people who are eligible for subsidies are from Hong Kong and the remainder come from more than 10 other countries and regions, including the United States, Germany, the United Kingdom, and Japan. They are working for 24 companies in the fields of finance, modern logistics, information services, technological and other professional services.
In 2013, only 23 talents were subsidized at a cost of about 4.5 million yuan. Both the number of professionals and the amount subsidized have more than tripled from a year ago.
The move was announced at the Second Annual Conference on Qianhai Talents Cooperation between Shenzhen and Hong Kong on Saturday.
The annual meeting, with the theme of Gathering International Talent to Accelerate the Development of the Free Trade Zone, aims to deepen exchanges and cooperation between Shenzhen and Hong Kong to promote cooperation among the neighboring cities and the construction of the pilot zone of Qianhai's talent management.
Zheng Xiuyu, director of Shenzhen's talents office, said during the meeting that Shenzhen is exploring a new method of talent management and building a pilot base for overseas professionals to launch businesses and carry out innovation.
Lin Hong, deputy director of the Qianhai and Shekou area of China (Guangdong) Pilot Free Trade Zone and deputy director of the Qianhai Authority, said the area is devoted to becoming a new landmark of China's FTZ construction.
He said Qianhai is pioneering a new round of reform and opening-up of China, which could provide an opportunity for talented people both in and out of China to realize their dreams.
More than 200 people, including officials from the Chinese mainland, Hong Kong and Macao, association representatives, professional experts and company representatives attended the conference.
The Qianhai Authority signed an agreement with the Shenzhen Science and Technology Association to set up an offshore innovation and startup base to attract overseas talent in the modern service industry.
At the same time, the Qianhai service alliance for talent, Qianhai fieldwork base for Hong Kong university students and an Internet alliance for Chinese high-tech professionals were officially launched.