Guizhou begins support scheme for overseas returnees

According to the Guizhou Human Resources and Social Security Department, innovation and entrepreneurship support funding is now being provided to overseas returnees.

The funding will support innovation and entrepreneurship projects started by overseas returnees in big data, big ecology, big health, new materials, equipment manufacturing, mountain agriculture and tourism.

In order to receive innovation funding, applicants should be overseas returnees with a PhD who began working in Guizhou after Jan 1, 2017.

In order to receive emtrepremeurship funding, applicants should be overseas returnees with a master's degree or above, be the legal representative of a company, and have no criminal record. The company must have been registered between one and three years ago and have a registered capital of over 500,000 yuan ($72,872.5). The capital contribution of the applicant should be over 50 percent.

Different amounts of funding will be provided according to the application. For major projects, a one-time grant of 300,000 yuan will be provided, while 200,000 yuan will be provided for outstanding projects and 100,000 yuan for starting projects.

The policy also applies to Hong Kong, Macao and Taiwan residents. Applications will close on Sept 30.

Refer to the policy: Guizhou provides big financial support for overseas returnees