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October 23, 2017

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Home » City specials » Chengdu

Attracting top talent the key to a prosperous future

Chengdu in the summer put forward 12 measures to attract professionals to meet the need for rapid technological development and new business models.

Capitalizing on the Internet and big data, artificial intelligence in various industries requires new technology and business talent. And the need to shift economic momentum away from traditional to emerging industries has triggered a war for talent among many cities in China.

Chengdu has introduced measures offering policy and financial support for incoming professionals, including putting a priority on facilitating residential registration and affordable housing.

Chengdu authorities have found it crucial to stick to a new view on talent that places talent policy at the forefront of industrial development rather than in a supporting position.

Multi-level policies are being implemented to attract various talent, including top-level and young talent and skilled professionals.

Graduates who are 45 years old or under, and have a bachelor degree or above can register in the city upon graduation. Companies introducing talent through employment agencies can receive subsidies to cover their costs, and graduates attending interviews in Chengdu can apply for a seven-day free stay at Young Talent Inn.

A range of affordable housing is offered to incoming talent and the Chengdu Talent Green Card system guarantees housing, education, and entrepreneurship support for senior-level talent.

A 160-million-yuan (US$24 million) special fund has been established to offer free vocational training, and subsidies are offered for vocational schools to adjust curriculums and set up internship cooperation.

Also, an bonus of up to 5 percent is offered to professionals in the real economy and emerging industries with annual salaries above 500,000 yuan, and the city offers up to 10 million yuan in comprehensive support to attract top-level international talent such as Nobel laureates.

Students setting up their own businesses can also receive subsidies to cover the interest on loans up to 500,000 yuan over three years.

Zeng Luxian, 27, from Neijiang, Sichuan Province, became the first to get the Chengdu hukou (permanent residency) under the new talent policy.

She came to Chengdu 10 years ago to study at Sichuan University. She earned the doctoral degree in polymer materials this year and now works for the university. It took her only 10 minutes to complete the application.

“I am so happy that I got my new residency. The application procedure is quite easy,” Zeng said.

So far, a total of 48,042 young professionals have settled in Chengdu since the new policies were introduced.

The inflow of talent is expected to significantly improve the demographics and knowledge skills in the city.

Measures to offer apartments and temporary housing for young talent, improve medical insurance and simplify visa procedures are aimed at making incoming talent feel at home.

So far, nearly 300 Chengdu Talent Green Cards have been issued to academics and members of national and city-level talent projects.

They are eligible for 24 services in the fields of policy, innovation, entrepreneurship, business, and lifestyle.

The city plans to introduce 100 top innovation and entrepreneurship teams and 1,000 high-level individuals in the next five years.

Chengdu is emerging as a core city in China, and whether it can stand among the best depends on its ability to attract talent.

Last year Chengdu’s gross domestic product rose 7.7 percent year on year to 1.22 trillion yuan, ranking No. 3 among its counterparts. Its fixed asset investment ranked No. 1 among all sub-provincial cities.


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