China’s southern export hub steps up talent hunt as Dongguan dangles US$70,000 cash, US$1.4 million housing subsidy
- Dongguan will offer a home-purchase subsidy of up to 10 million yuan (US$1.37 million) to lure talent as it seeks to upgrade to advanced industries
- City will also offer up to 350,000 yuan in subsidies for living expenses, while employers could be rewarded up to 500,000 yuan for hiring a skilled professional, as provinces battle for high-end talent
China’s southern export hub of Dongguan has increased its home purchase subsidy to up to 10 million yuan (US$1.37 million) in an attempt to lure top professionals amid its transition from traditional manufacturing to advanced industries.
Monday’s municipal directive is one of the most generous offered by a city, as local governments across China battle for talent amid their economic transformation efforts.
The city, in Guangdong province, has also vowed to give talented workers subsidies of up to 350,000 yuan (US$48,000) for living expenses, and a one-off cash reward of up to 500,000 yuan for employers who hire a talented professional, as it embraces high-end manufacturing.
The municipal government has categorised talent into five levels based on educational background and work achievements, with housing subsidies ranging from 1 million yuan to 10 million yuan for first-time homebuyers.
Previous housing subsidies ranged from 300,000 yuan to 2.5 million yuan.
Applicants can also receive a monthly subsidy of between 2,000 yuan and 6,000 yuan if they opt to rent.
