Hengqin now a magnet for overseas Chinese experts

Hengqin New Area imported 46 members of The Thousand Talents Plan so far this year, bringing to 61 the number of foreign Chinese experts who have been attracted to return to their homeland via its efforts.

The Thousand Talents Plan, or Recruitment Program of Global Experts was initiated by the Chinese government in 2008. Hengqin responded by launching a series of preferential government policies and promotional events such as talent exchanges.

The experts are using their experience to enhance the area's economic development. They have established startups and pioneered innovative projects in electronics and information, new materials, aviation and aerospace, biological products and new drugs, and new-energy and energy-saving technologies, among other fields.

Hengqin is currently seeing exponential growth in the number of high-end talents and the remarkable effects of talent aggregation, said an official from Hengqin's leadership group office responsible for talent work.

Hengqin New Area [File Photo]

Earlier this year, Hengqin issued Implementation Opinions on Prioritizing Talents Development in the Hengqin Free Trade Zone to urge upgrades in government services provided for them.

The new regulation loosens restrictions on incentive offerings. It stipulates that startup and innovation teams led by members of The Thousand Talents Plan or academicians of the Chinese Academy of Sciences and Chinese Academy of Engineering may apply for respective subsidies of 2 million yuan ($300,300) or 5 million yuan ($750,800) upon registering a company.

Previously, applicants could seek the financial support one year after registration of their companies and were required to have worked for at least six months in the area. 

In addition, Hengqin opened an "expert green channel" to help Thousand Talents Plan members complete business registration and obtain a business license in just one day, according to a government official.

Moreover, Hengqin is also endeavoring to provide financial services for projects headed by high-caliber talents, joining hands with Hengqin Financial Investment Co Ltd, a state-owned comprehensive financial institution affiliated with the Hengqin New Area Administrative Committee.

So far, nearly 10 Thousand Talents Plan projects have received financial support.