10.04.2018
Shenzhen, March 15 / Xinhua/ — In the southern Chinese city of Shenzhen, more start-up grants will be allocated for Chinese who have received higher education abroad. This decision was made in order to attract more talents to the city who intend to start their own business. This was reported by local authorities on Wednesday.
According to the City Administration of Labor Resources and Social Security, in 2018 the total amount of such grants will be increased from 15 million yuan (about 2.37 million US dollars) in previous years to 30 million yuan.
Entrepreneurial programs will be evaluated by experts, and the best of them will be allocated up to 5 million yuan.
Shenzhen started allocating grants for startups in 2001. To date, the local government has allocated grants to 947 companies founded by Chinese students who previously studied abroad.
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