Notice from the People's Government of Shenzhen on issuing the Implementation Measures for supporting financial talent development
The People's Government of Shenzhen issued the "Implementation Measures on supporting financial talent development" on 8 January 2019. In order to fully implement the development plan in the Greater Bay Area, the government will set up a union for financial talent development in the Greater Bay Area, in order to encourage financial professional talents from Hong Kong and Macao to provide professional services within the region. Besides, the government will also provide subsidies for financial talent exchange programmes, and encourage Shenzhen and Hong Kong financial institutions to jointly organise talent exchange programmes, such as forums and specialised trainings.
The People's Government of Shenzhen issued the above circular on 8 January 2019. Specific measures include:
Talent benefits and rewards
High-level talents or those under short supply who are targeted under the Shenzhen talent policy may enjoy relevant benefits as stipulated under the policy. Outstanding institutions that nurture financial talents in Shenzhen may awarded a one-off maximum of RMB 1 million.
The policy encourages financial institutions to set up internship for university students, offering subsidies for internship projects, and attracts 1,000 university students to join the internship programme. The policy offers one-off internship subsidies of RMB 2,000, RMB 3,000 and RMB 5,000 per person for undergraduate, postgraduate and doctorate students respectively.
The policy offers professional qualification examination application fee subsidy of up to RMB 50,000 for those who have obtained a financial professional qualification and have worked in the Shenzhen financial sector for at least 2 years.
Talent nurturing scheme
Leading Talent Enhancement Programme:
100 high-calibre financial talents would be selected each year, and each person may receive subsidies of up to RMB 50,000 per year.
Core talent nurturing scheme:
1,000 core potential financial talents will be selected each year for nurturing, and each person may receive subsidies of up to RMB 10,000 per year.
Youth talents support scheme:
10,000 youth financial talents may receive training subsidies each year.
Promoting exchange and cooperation between financial talents around the world and within the Greater Bay Area ("GBA")
The Shenzhen government will develop talent cooperation and exchange programmes with cities including New York, London, Hong Kong and Singapore, targeting to send 100 high-calibre financial talents overseas for study trips, and provide up to RMB 10,000 subsidies per person each year.
The GBA develop plan will be fully implemented, strengthening the Hong Kong and Macao financial sectors, and promoting exchange, cooperation and development in nurturing financial talents between these regions.
A financial talent development union will be set up in the Qianhai Shekou Free Trade Zone, encouraging financial talents from Hong Kong and Macao to provide professional services to Mainland enterprises and residents.
Together with the Hong Kong Monetary Authority and the Monetary Authority of Macao, the Shenzhen Municipal Government Financial Services Offices would regularly organise joint exchange events, and provide subsidies of up to RMB 200,000 per event.
This circular is effective from 6 January 2019 and is valid for 5 years.