Notice on the Issuance of the Detailed Implementation Rules of Guangzhou Huangpu District and Guangzhou Development District to Support Hong Kong and Macao Youths in Innovation and Entrepreneurship (Sui Bu Ke Gui Zi [2019] No.4)

20 December 2019

Guangzhou Huangpu District Science and Technology Bureau and 6 other bureaus in Guangzhou jointly published the “Notice on the Issuance of the Detailed Implementation Rules of Guangzhou Huangpu District and Guangzhou Development District (“the District”) to Support Hong Kong and Macao Youths in Innovation and Entrepreneurship” on 20 December 2019.

Eligible Hong Kong and Macao youths, aged between 18 and 45, may enjoy talent benefits in areas of employment, transportation and housing.

The specific implementation rules include the following:

• Each start-up project of Hong Kong and Macao youths that has participated in and won awards in qualified innovation and entrepreneurship competitions and is located in the District may be granted start-up subsidy benefits of up to RMB200,000;
• At least 300 internship positions in government departments or business units will be selected each year to provide internship opportunities to Hong Kong and Macao college students, each of whom will also be granted an internship subsidy of RMB3,000 per month, and be given free accommodation;
• Hong Kong and Macao high-end talents and talents in shortage who are working in the District may be granted financial subsidies equal to the amount of the PRC Individual Income Tax paid in excess of 15% of his or her taxable income. The subsidies are exempted from Individual Income Tax;
• Hong Kong and Macao graduates who are within 5 years of their graduation, have signed employment contracts for a term of 2 years or more with enterprises or institutions within the District and have actually worked for one year, may be granted subsidy benefits of up to RMB50,000;
• Hong Kong and Macao talents who are working in the District may be granted transportation subsidy amounted to RMB1,000 per month; and
• Eligible talents of Hong Kong and Macao will be provided with housing and rental subsidies.

The implementation rules are effective from 20 December 2019 and valid until 30 June 2022.