Shenzhen to spend billions in bid for talent

Shenzhen’s government has doubled this year’s budget for programs related to attracting talented people to the city to 4.4 billion yuan this year in a bid to attract more academics and professionals to help nurture innovation. Caixin said the city government made especially rich offers to top talents. It defined those as world-class scientists and researchers who have led nationally or internationally acclaimed research projects. They have a choice of a one-off cash payment of RMB 6mn, a 10-year lease on a 200 square meter apartment, or RMB 10mn in cash and benefits payable after ten years.