More than 1,000 professionals from about 400 companies have applied for incentives under Zhuhai's new housing policy since its launch on Feb 6, the southern Guangdong city's organization department said Monday.
The policy offers young professionals who began working in Zhuhai after June 1, 2023, free housing for their first year, a 70 percent rent reduction in the second year and a 50 percent discount in the third year.
"We're striving to establish one of the nation's most favorable and comprehensive housing systems for young professionals," said Li Tengdong, a senior official with the Zhuhai Municipal Party Committee's Organization Department.
Li said the program is designed to be inclusive, extending beyond those with undergraduate or higher degrees to skilled workers and experts with specialized expertise. The city aims to attract talent beyond traditional educational qualifications.
Permanent residents of Hong Kong and Macao, as well as those approved under Hong Kong's Quality Migrant Admission Scheme and Macao's High-end and Outstanding Talent Recruitment System, are also eligible for the benefits.
A WeChat mini program platform has been accepting applications since the policy's launch. The organization department said local businesses have responded positively to the initiative.
The first batch of 1,000 apartments is expected to be available by the end of the month. Up to 7,000 units are scheduled for release this year, with 36,000 planned over the next three years.
"The new policy offers tangible support for newly hired graduates, greatly enhancing companies' ability to attract talent," said Fang Haizhou, managing director of Zhuhai-based Essex Bio-Technology.
Many companies in Guangdong already offer housing incentives to attract professionals. Xiao Yibo, founder and CEO of Zhuhai-based biotechnology startup Protoga, said the housing perks help companies lower labor costs, allowing them to invest more in technological research and innovation.
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