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Nansha Announces 30 Measures to Encourage Hong Kong and Macao Youth Innovation and Entrepreneurship

Nansha District officially promulgated Implementation Measures of Guangzhou Nansha New Area (Free Trade Zone) on Encouraging and Supporting Innovation and Entrepreneurship of Youth from Hong Kong and Macao  (Trial). A total of 30 specific measures were provided in internship, employment, and starting business, etc..

For young people aged 18 to 45 who hold Hong Kong or Macao permanent residency, Nansha District provides education subsidy, which is the first of the kind and up to 30,000 Yuan, to encourage them to continue their studies. In addition, they can also apply for job-seeking subsidy at the same time, which is up to 33,000 Yuan. In terms of living support, eligible recipient will receive 1,500 Yuan rental and transportation subsidies per person per month, as well as medical insurance subsidy up to 5,000 Yuan per person per year, which is also provided for the first time to cover the basic medical insurance and commercial insurance.

Businesses started up by Hong Kong and Macao young people and registered in Nansha District can each receive a settling-in subsidy up to 200,000 Yuan, an annual rental subsidy up to 200,000 Yuan rental and an exhibition subsidy up to 100,000 Yuan. For businesses started up by Hong Kong and Macao young people which have received a cumulative investment of more than 5 million Yuan within 2 years of establishment, generated an annual operating income of more than 5 million Yuan in the previous year and employed more than five Hong Kong or Macao young people, a lump-sum reward of 500,000 Yuan will be granted.

Nansha District will also recognize a number of Hong Kong and Macao youth innovation and entrepreneurship bases, and each base will be given an annual subsidy of 1 million Yuan. Among them, a number of demonstration bases will be selected and each of them will be given an additional reward of up to 1 million Yuan per year.