Settlement allowances offered to talent in top industries
People working in certain special industries in the Lin-gang Special Area in East China's Shanghai can apply for settlement allowances when they work and live in the area for the first time.
The industries in question are frontier industries – integrated circuits, artificial intelligence, biomedicine, civil aviation and other cutting-edge sectors.
Subsidies are set at three levels. At the first level, those people with doctorate or who have senior titles or skills, below the age of 45, can apply for 80,000 yuan ($11,862). College graduates within two years of graduation can apply for 104,000 yuan due to policy supports.
At the second level, talent with a post-graduate degree or who have intermediate titles or skills, below 35 years, can apply for 20,000 yuan. On this level, college graduates within two years of graduation can get funds of 26,000 yuan.
At the third level, those with an undergraduate degree or with corresponding skills, also below 35, can apply for 10,000 yuan. In addition, college graduates within two years of graduation can apply for a grant of 13,000 yuan.
Funds are applied by enterprises and will be granted to individuals.
Applicants should be key enterprises that give priority to developing frontier industries in the Lin-gang Special Area and need to be recognized as such by relevant industry authorities.
They also need to meet relevant conditions in their business registration place, operations place and tax collecting place – as well as maintain stable employment and advance their development.
Individuals need to have signed contracts with their employers for over one year and pay social insurance and income tax. Also, it should be the first time they work and live in the industrial and urban area of Lingang.
Talent and their family members must not have bought a house in the area. They also need to guarantee they will do more than two years further work once receiving the allowance.
The policy was started on July 1 in 2022 and will end in Dec 31 in the year 2025.
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