APPLICATIONS for next year's subsides for returned overseas students starting new businesses will be accepted from Jan. 1 until the end of March 2018, the Shenzhen Special Zone Daily reported Wednesday.
According to the city's human resources and social security bureau, returned overseas students who come to Shenzhen to start their businesses can enjoy subsidies ranging from 300,000 yuan (US$45,900) to a million yuan, and even 5 million yuan for exceptionally outstanding projects.
Meanwhile, companies started by returned overseas students can also apply for subsidies for improving the innovation environment in the new year.
According to related policies and regulations, applications must be from returned overseas students that meet the following requirements.
The applicants should possess certificates of returned overseas students issued by the city's foreign experts affairs bureau. The applicants must serve as legal representatives, key management personnel or technology directors, while the shareholders of the startups must have stocks worth at least 300,000 yuan.
In addition, the startups must fall into the categories of industries that are supported by the Shenzhen government. The startups also must have been registered between Jan. 1, 2015 and June 30, 2017, and currently be operating legally.
The applicants will receive subsidies of various amounts based on their degrees. For instance, applicants who are holders of doctorates, have been employed to research overseas for at least one year and have five years of studying or working experience in countries and regions outside the Chinese mainland could be granted 1 million yuan.
Applications should be lodged online at https://sz12333.gov.cn/lxrysb/ before March 31, with a hardcopy of the materials submitted to a district-level human resources and social security bureau before April 6.