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Shenzhen Introduces New Policy on Employment and Entrepreneurship for Hong Kong and Macau Youth: Up to One Million Yuan in Bonus

On July 20, Shenzhen Qianhai released the "Twelve Measures to Support the Employment and Entrepreneurship Development of Hong Kong and Macao Youth in Qianhai". These measures provide comprehensive support for Hong Kong and Macao youth in terms of internships, employment, entrepreneurship, and living in Qianhai.

These measures specifically welcome Hong Kong youth to come to Shenzhen for internships and employment. For Hong Kong and Macao youth who are employed in Qianhai after July 1, 2021 and meet the requirements, they will receive a subsidy of 20% of their monthly taxable salary, with a maximum monthly subsidy amount of 5,000 yuan, for a maximum cumulative subsidy period of 3 years.

In addition, for employers who hire Hong Kong and Macao youth who meet the requirements after July 1, 2021, they will receive a subsidy of 10,000 yuan for each hired youth, with a maximum cumulative subsidy amount of 200,000 yuan. For internships of one month or more by Hong Kong and Macao youth who meet the requirements, the internship units will receive corresponding internship subsidies based on their educational backgrounds.

In terms of supporting entrepreneurship, the "Twelve Measures" provide the highest rewards. Hong Kong and Macao youth entrepreneurial enterprises established after July 1, 2022 and meeting the requirements will receive a one-time entrepreneurial incentive based on the actual amount of funding received, with a maximum amount of up to 1 million yuan. In addition, if the entrepreneurial projects meet the conditions for subsidies from the social security department for returned overseas students starting businesses in Shenzhen, they can also apply for relevant subsidies.

Enterprises leasing office space or operating venues within the qualifying Qianhai entrepreneurial carriers will receive a space rental subsidy not exceeding 300,000 yuan, based on 50% of the actual generated rental fees from the previous year. The monthly subsidy amount per square meter will not exceed 60 yuan, and the maximum cumulative subsidy period is 3 years.

Furthermore, qualifying entrepreneurial carriers will also receive up to 1 million yuan in operation incentives annually. Teams that win awards in the Qianhai Guangdong-Hong Kong-Macao-Taiwan youth innovation and entrepreneurship competition can receive a maximum reward of 400,000 yuan, while those who win awards in the competition sub-regions can receive a maximum reward of 100,000 yuan. Hong Kong and Macao youth entrepreneurship enterprises that meet the requirements will also have their corporate income tax levied at a reduced rate of 15% according to regulations.

In terms of housing, the "Twelve Measures" specify that Hong Kong and Macao youth who are employed or start businesses after July 1, 2022 and meet the requirements, and their spouses and underage children who have no self-owned housing in Shenzhen and have not enjoyed preferential housing guarantee policies, will receive a monthly rental subsidy of 1,000 yuan for a maximum cumulative subsidy period of 3 years.

Additionally, Hong Kong and Macao youth who are employed or start businesses after July 1, 2022 and meet the requirements of these measures or participate in the Greater Bay Area youth employment program implemented by the Hong Kong Special Administrative Region government will receive a monthly living subsidy of 1,500 yuan for a maximum cumulative subsidy period of 3 years.

The "Twelve Measures" will comprehensively support the development of Hong Kong and Macao youth in Qianhai and will be implemented starting from July 20, 2023, with a validity period of 3 years. These measures provide a favorable environment for entrepreneurship and living security for Hong Kong and Macao youth, which will help promote their employment and entrepreneurship in Qianhai.

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