Notice from the Bureau of Financial Affairs of Guangzhou Municipality on "Implementation measures in Guangzhou for supporting project for high-level financial professionals (Amendment)" (Sui Jin Rong Gui [2018] No.7)

11 October 2018

The Bureau of Financial Affairs of Guangzhou Municipality released the above circular on 11 October 2018, which mainly supports four types of talents, including foreign talents working in Guangzhou and those who have signed employment contracts with financial institutions for 3 years or above. Pursuant to the revised regulations, eligible talents are entitled to subsidies and household allowances amounting to RMB 500,000 and RMB 1 million respectively. The circular is effective from 11 October 2018 and is valid for 3 years.

Abstract

The Bureau of Financial Affairs of Guangzhou Municipality released the above circular on 11 October 2018 with immediate effect, and is valid for 3 years.

High-level financial talents in Guangzhou will be assessed once a year. The Office of the Bureau of Financial Affairs would determine the index and assessment guidelines for high-level financial talents in Guangzhou according to the actual working situation, which could be used as a reference for assessing talents. The Measures supports four types of talents including leading financial talents, senior financial managerial talents, senior financial professionals, and financial talents introduced under flexible employment policy.

Talent category Talent criteria Facilitation Measure
Leading financial talents
  • Meets one of the application criteria as a financial leader in Guangzhou;
  • Possesses global vision and knowledgeable in international financial regulations
  • RMB 500,000 subsidy for the assessment year;
  • RMB 1 million housing allowance for newly recruited talents (paid in 3 instalments of 40%, 30% and 30%)
Senior financial managerial talents
  • Held managerial or assistant managerial roles or above in financial institutions in Guangzhou, or have made significant contribution to the economic environment in Guangzhou
  • RMB 200,000 subsidy for the assessment year;
  • RMB 300,000 housing allowance for newly recruited talents (paid in 3 instalments of 40%, 30% and 30%)
Senior financial professionals
  • Talents who have shown outstanding performance in major transactions, offshore financing, human resources management, ship financing, equity investment (VC, PE) etc.
  • RMB 100,000 subsidy for the assessment year;
  • RMB 200,000 housing allowance for newly recruited talents (paid in 3 instalments of 40%, 30% and 30%)
Financial talents introduced under flexible employment policy
  • Talents with post-doctorate degrees with 10 consecutive years or above experience in world renowned financial institutions or talents with post-graduate degrees with 15 consecutive years or above experience in world renowned financial institutions
  • One-off subsidies of RMB 100,000 and RMB 200,000 for those who have signed service agreements and worked in Guangzhou for 2 months and 6 months respectively per year.
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