WEDZ provides new incentives to talent

The Wuhan Economic & Technological Development Zone (WEDZ) recently issued its talent rewarding strategy 3.0 and specified corresponding application requirements and procedures.

According to the document, strategic technology talent – referring to those in possession of core technologies conducive to the zone's industrial transformation and upgrading, and having received recognition from peers in the industry from home and abroad – will be granted up to 100 million yuan ($14.55 million) in financial assistance by the zone's government.

Similarly, leading figures of an industry will be subsidized at 50 percent of their annual pay, but no more than 10 million yuan.

In addition, outstanding senior executives (especially those having worked at Fortune 500 companies, China's top 500 firms and China's top 500 private enterprises, or those who have founded industrial unicorns or listed corporations), high-end talent, technology service talent, young entrepreneurs, excellent engineers and renowned social talent (including famous teachers, school presidents, doctors, directors of hospitals, artists, athletes, and rural vitalization personnel) will be incentivized to varying degrees.

Prominent young talent working in the zone who have graduated from top universities within the past six years will also enjoy living, car and house allowances.

Please refer to the official Chinese website of WEDZ to see the full version of the talent inventive plan and relevant application procedures.