The Dream Factory of China

Source :Qianhai Communication Center

Qianhai, known for its business and entrepreneurship-friendly environment, has attracted a growing number of young people from Hong Kong, Macao and other overseas countries to seek career development on the Chinese mainland.

A variety of favorable policies on such as personal income tax and subsidized housing has been introduced to attract overseas talents to Qianhai.

In 2018, Qianhai became the first venue on the Chinese mainland that allows Hong Kong and Macao residents to work in the free trade area without obtaining an employment permit. Overseas talents are allowed to join the city’s housing provident fund program.

In the same year, Qianhai also issued Guangdong’s first permanent identity card for foreigners, a significant step for talent cooperation and development in the Guangdong-Hong Kong-Macao Greater Bay Area.

Overseas talents are also eligible for the preferential individual income tax rate in Qianhai. So far, Qianhai has allocated a total of 432 million yuan (US$62 million) in subsidies to overseas talents and urgently-need professionals.

Qianhai has China’s first international youth entrepreneurship community. Its 58,000-square-meter Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (the E-hub), one of the entrepreneurship and innovation carriers in the free trade area, has offered office space at discounted prices and job opportunities to overseas talents since its inauguration in 2014.

More than 2,000 internship opportunities have been offered to college students from Hong Kong, Macao and Taiwan and 446 startups incubated at the E-hub over the past six years. More than 1,500 startup teams from Hong Kong, Macao and other overseas countries have visited the E-hub on business exchange activities.

“The supporting facilities at the E-hub are complete,” said Derrick Hui, director of the China Center of Excellence of PwC, adding that there are office space, sports and fitness venues, and talent housing. “It makes us feel at home while pursuing our business goals.”

An additional 19,000 square meters of office space will be available to more entrepreneurs when the second phase of the E-hub is put into service at the end of August.

Other talent cultivation platforms such as the Qianhai Shenzhen-Hong Kong Fund Town, the Qianhai Shenzhen-Hong Kong Innovation Center, and the Qianhai Shenzhen-Hong Kong Cultural and Creative Town have been built to attract more Hong Kong and Macao talents to start business in Qianhai.