SIP enhances efforts to attract and retain talents

Being well aware of the important role of talents in the development of an area, SIP authorities have been enhancing their efforts to attract and retain talents. So far, SIP has attracted more than 410,000 talents engaged in different fields.

Since early last year, SIP authorities have introduced a series of new policies for talent introduction. For example, in accordance with an incentive plan aimed at luring high-caliber and urgently needed professionals to the free trade zone in SIP, an eligible professional receives a reward of at most RMB 400,000 each year, and one with special contributions to SIP’s development receives a reward of up to RMB 1 million each year. Under the plan, about RMB 8 million was offered to the first beneficiaries last June.

In addition to that, SIP authorities also instituted the “30 New Talent Policies”, “15 Policies for Biomedical Professionals” and the “Jinji Lake Plan for Health Professionals” last year.

On the other hand, SIP authorities have been improving talent services to help talents from outside SIP get used to local life, including helping the non-local talents make new friends and offering them and their families privileges in terms of house purchasing and renting, household registration, children’s schooling and medical services.

“Listed Companies’ Nursery” program helps enterprises increase the odds of going public

The “Listed Companies’ Nursery” program which SIP authorities launched in late 2019 in the aim of giving companies in SIP all-around support for listings has helped seven enterprises go public.

The program adopts a level-to-level admittance criteria system to select enterprises in three development stages and give them advice, financial assistance, training and other forms of help for their listings.

For example, more than 10 banks have promoted loans to support enterprises covered by the program. An enterprise rated the “Basic” or “Key” level can get a loan of up to RMB 20 million, while a pre-IPO enterprise can get a loan of up to RMB 100 million and a person working at a managerial level or a key technician in the enterprises can get a loan ranging from RMB 300,000 to 3,000,000. Besides, a RMB 1 billion fund has been established to encourage and guide investment in enterprises under the program.

In terms of training, the SIP “Listed Companies’ Nursery” Training Program was launched last July, consisting of customized courses, selected courses and online courses to give companies intending to go public all-around support from management optimization to financial planning and compliance to relevant laws and market rules.

According to SIP Enterprise Development Service Center, the organization in charge of running the program, more services will be made available to the enterprises under the program in the future.