Subsidies rolled out to support HK, Macao start-ups

Young entrepreneurs from Hong Kong and Macao who start their businesses in Shenzhen will receive a one-off subsidy of 10,000 yuan (US$1,447) and a monthly rent subsidy of 1,560 yuan for three years.

If the entrepreneurs’ businesses create more job opportunities, there will be an employment subsidy of 2,000 to 3,000 yuan per person and it will be capped at 30,000 yuan.

The city will also offer subsidies ranging between 2,000 yuan and 10,000 yuan per person for training, and a maximum of 600,000 yuan guarantee loans for entrepreneurship, according to a plan released by the Shenzhen Municipal Human Resources and Social Security Bureau recently.

The city-level entrepreneurship bases for Hong Kong and Macao youths can each receive a reward of 500,000 yuan and Hong Kong and Macao youth teams that win in entrepreneurship competitions can receive full funding support per award they receive. They can also receive 200,000 yuan in funding support when they meet the requirements in settling at the entrepreneurship bases.

For Hong Kong and Macao youths who get employed at grassroots organizations, they will receive a subsidy of 3,000 yuan, and they will also receive a subsidy up to 1,000 yuan per month under the GBA Youths Employment Plan, which lasts for 18 months. They also have a chance of getting 3,000 yuan per person in subsidy for looking for a job.

The bureau will also implement the GBA Career Tutor Plan, which will hire some Hong Kong and Macao people as tutors to provide internship, recommendation and career development services to Hong Kong and Macao youths.

The municipal and district-level human resources authorities will provide services to Hong Kong and Macao youths through purchases of services at public employment service institutes, higher learning institutions, social organizations and entrepreneurship hubs.

ARTICLE FROM: Shenzhen Daily / Shenzhen Government Online