Zhuhai FTZ incentivizes talents serving key industries
Key enterprises in the Zhuhai Free Trade Zone (FTZ) and Zhuhai-Macao Cross-Border Industrial Park will be eligible for a 6-million-yuan ($893,575) talent fund, up to a 2-million-yuan ($297,850) subsidy for vocational skills training, and high income-tax rebates.
The Zhuhai FTZ Administrative Committee will establish a dedicated fund to attract and cultivate talents for both industrial enterprises with annual main business revenue of at least 20 million yuan ($3 million) and for High & New-Technology Enterprises in the FTZ. The lump-sum amount will be based on the percentage of a company's talent depth in the total talent stock of eligible companies during the previous year.
Zhuhai Free Trade Zone [Photo by Zhong Fan / Zhuhai Daily]
Senior management recognized by the Zhuhai Industrial Development & Innovation Talent Award, middle-level management and above of headquarters enterprises (large-scale backbone enterprises and Zhuhai top 50 taxpayers), and technical R&D backbones will be identified as Talents With Outstanding Contributions.
The accreditation means the local retained portion of their income tax will be returned in full, relative to their contribution to FTZ development in the previous year. The award will be allocated to individual accounts of the talents after personal income tax is deducted.
Furthermore, corporate staff training will be incentivized provided that the number of those receiving training in a year does not exceed 20 percent of the number of the company's employees included in the local social insurance system.
If there are differences between FTZ benefits and those of municipal or higher-level policies, then the latest, more favorable ones will apply, according to the Administrative Committee.