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Budget apartments for talents open

THE first low rent apartments for financial talents opened to the public today in Huangpu District.

The first 80 rooms are serviced apartments in the Shanghai New World Holiday Huijing Hotel on Lujiabang Road, Shanghai Morning Post reported today.

The government and companies will subsidize the tenants, said Zhang Jihuan, director of the district's Human Resources and Social Security Bureau.

Currently the rent is 200 yuan (US$29) per day of which the government will cover about 60 yuan, the report said. Laundries, kitchens and a gymnasium will be provided later, according to the report.

Financial talents working around the Bund can apply for the apartment. But they must have at least a one-year contract with their companies and have no housing in Shanghai.

Huangpu District has set aside about 10 million yuan to subsidize talents in the district.


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