Talents that relocate to Shenzhen will soon receive higher subsidies for housing, research, entrepreneurship and more, according to a new government policy released on April 9.

Exceptional talents can now choose between a housing subsidy worth 6 million yuan ($930,000) and a 200-square-meter apartment to live in rent-free for a maximum of 10 years.

Rent subsidies also increased from 4,800 yuan to 10,000 yuan per month for other high-level talents. Those qualified can enjoy the subsidy for up to three years. Newly arrived full-time students at the undergraduate level and above will receive one-time subsidies starting from 15,000 yuan and increasing based on education level.

For newly elected Shenzhen-based members of both the Chinese Academy of Sciences and the Chinese Academy of Engineering, there will be 1 million yuan for research and 6 million yuan in subsidies made available.

Business founders can enjoy a 20 to 50 percent increase in rent allowance, and entrepreneurs with overseas experience are entitled to up to 1 million yuan in initial funding for new projects. Some may even receive up to 5 million yuan for exceptional projects.

Elementary and junior high schools are being encouraged to offer business courses and support entrepreneurship-related activities with subsidies worth up to 1 million yuan.