This undated photo shows a night view of Zhuhai, a Guangdong province city in the Guangdong-Hong Kong-Macao Greater Bay Area city cluster. (PHOTO / CHINA DAILY)

HONG KONG – Small and medium-sized enterprises (SMEs) set up in Zhuhai by Hong Kong and Macao residents will enjoy subsidized loans up to 3 million yuan (US$430,000) based on the size of employment of the local people, according to a government statement.

The new draft policy, announced by Zhuhai Municipal Human Resources and Social Security Bureau, is expected to facilitate the employment and entrepreneurial activities of young talents from Hong Kong and Macao special administrative regions, and boost the construction of the Guangdong-Hong Kong-Macao Greater Bay Area.

Yet-to-be-hired Hong Kong and Macao residents aged 16 to 24 and new graduates will receive insurance and internship subsidies by the company and Zhuhai government

Besides, they will have privileges regarding startup funding, rent subsidies, social security subsidies and rewards for creating jobs.

Hong Kong and Macao entrepreneurs will be granted preferential access to the Zhuhai Startup Incubator Center where they do not have to pay the rent and property management fees up to three years. 

They can apply to the city or district for subsidized housing, according to the document.

Another up to 300,000 yuan subsidized loans will be available for Hong Kong and Macao residents running businesses in Guangdong province city, given that they had registered their businesses and received startup loans from financial institutions in Zhuhai, Hong Kong or Macao.

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To lure young talents, 3,000 yuan subsidies are expected to be given to every graduate from Hong Kong and Macao universities who works in medium, small and micro enterprises in Zhuhai, on the ground that he or she has completed the social security payments for at least six months.

Yet-to-be-hired Hong Kong and Macao residents aged 16 to 24 and new graduates will receive insurance and internship subsidies by the company and Zhuhai government.

Zhuhai government also gives free rein to companies which intend to organize career fairs in the two SARs, and grant social security subsidies if they sign the labor contract with those young graduates.

Target vocational skill training has covered employees in Hong Kong and Macao companies in Zhuhai. 

For Macao residents, they can receive subsidies from 1,000 to 1,500 yuan while attending skill training in Zhuhai’s vocational schools.

Zhuhai, as the only mainland city that connects with Hong Kong and Macao by land via the Hong Kong-Zhuhai-Macao Bridge, has been stepping up efforts to attract talents across the border. In April 2018, the government introduced policies including tax reduction, healthcare services and education.