Nansha district in Guangzhou will offer one-off grants to young workers from Macao and Hong Kong

Nansha District of Guangzhou City has announced a one-time allowance of up to RMB 120,000 (MOP 144,934/USD 17,933) for Macao and Hong Kong youth working in the district, with an additional monthly wage subsidy of up to 5,000RMB.

Nansha District is the sixth state-level New Zone (Special Political and Economic Administration Zone) established in 2012 under the direct control of the Guangzhou Municipal Government.

In order to make Nansha a “new home for the youth of Hong Kong and Macao to live and work in peace and satisfaction” within three years, the district government has recently released the “New Ten Measures to Support the Entrepreneurship and Youth Employment of Hong Kong and Macao in the Guangzhou Nansha New Zone’, encouraging young people from the two SARs to work and create businesses in the development zone.

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The measures propose to grant a one-time grant of up to 120,000 RMB to young people from Macao and Hong Kong who choose to work in Nansha, and to give an additional monthly grant of up to 5,000 RMB on salary for three consecutive years.

Meanwhile, employers who hire young people from Macao or Hong Kong will receive up to RMB 200,000 recruitment reward, and a maximum of RMB 100,000 reward will be given to human resource agencies that generate employment for young people from the two SARs. in Nasha.

The region will also launch an internship scheme that will provide at least 1,000 internship positions per year, with a grant scheme totaling no less than RMB 2 million for the internship scheme.

In order to encourage young people in Macao and Hong Kong to participate in vocational training, the measures also launched a subsidy of RMB 80,000 to those who obtain vocational qualifications or practicum certificates.

For business start-ups, a subsidy of up to RMB 3.7 million will be provided to young entrepreneurs from Macao and Hong Kong, as well as administrative support during the registration process, rental of premises, recruitment and legal assistance.

The measures propose to grant a one-time grant of up to 120,000 RMB to young people from Macao and Hong Kong who choose to work in Nansha

A Hong Kong and Macao Youth Entrepreneurship and Innovation Foundation will be established, to which RMB 1 billion will be injected, to encourage venture capital funds to invest in the entrepreneurial projects of Hong Kong and Macao youth. region, while a reward of up to RMB 10 million will be given to funds based on the investment amount.

Banks and financial institutions are encouraged to lend to youth business projects, with credit risk compensation of up to RMB 2.5 million for institutions.

In addition, the measures propose to build some Hong Kong and Macao Youth Innovation and Entrepreneurship Bases, and give eligible bases an annual subsidy of up to 1 million RMB.

Nansha district also launched some housing aids in the ten measures, such as providing eligible young people from Macao and Hong Kong with free accommodation in designated apartments or a subsidy of up to 20,000 RMB a year.

Article republished under an agreement with Macau Business to share content. Link to original article: https://www.macaubusiness.com/nansha-district-to-offer-one-off-subsidies-to-macau-and-hk-young-workers/