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Shenzhen Offers Returned Students Business Funds
Shenzhen, a special economic zone neighboring Hong Kong, is trying to attract more Chinese students and scholars studying overseas to launch businesses here by offering them subsidies and start-up funds.
The municipal government has decided to allocate 30 million yuan (3.6 million U.S. dollars) each year to support the plan.
Returned students from overseas will receive subsidies from the government to cover the cost at the early stage of the launch of their businesses, while those who get involved in high-tech research can receive up to 150,000 yuan (over 18,000 U.S. dollars).
According to official sources, the funds will be mainly used for building and improving business parks for returned overseas scholars, and establishing an information website for them.
They can apply for the start-up fund if they register solely- funded companies in their own name or hold at least 300,000 shares or 15 percent of a company's stock.
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