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szdaily -> News -> 
SZ UNVEILS POLICIES TO BOOST HR SERVICE INDUSTRY
    2018-11-01  08:53    Shenzhen Daily

SHENZHEN has begun to implement a slew of new policies to boost human resources services in the city today, Shenzhen Talent Day, Wang Qing, a senior official of the city’s human resources and social security bureau, told a press conference Tuesday.


It is the first time Shenzhen has rolled out supporting policies for HR services, which will involve 80 million yuan (US$11.6 million) in government funding each year.


According to Wang, the number of human resources service institutions in Shenzhen is expected to reach around 1,000 by 2022, with a total output value of 100 billion yuan.


The city is going to cultivate 10 leading human resources service institutions that can generate 3-5 billion yuan each annually and introduce 50 renowned high-end institutions from around the world to settle in Shenzhen.


It also plans to establish a national-level industrial park for the human resources service industry to incubate successful national online trading platforms in the industry.


According to the new policies, renowned HR service companies will be awarded a maximum of 10 million yuan for settling in Shenzhen, and companies that make it into China’s top 500 for the first time will be awarded a maximum of 10 million yuan by the city government. A maximum 5-million-yuan reward will be given to HR companies that introduce high-end talents that are urgently needed.


Local HR service enterprises are encouraged to conduct exchanges and cooperation with international counterparts, and introduce world-famous global professional associations and research institutes. They will receive government subsidies for setting up an HR service industrial park, and are encouraged to shift to high-end services and research of new trends in HR services with the help of new technologies, such as cloud computing and big data.


Shenzhen has been making efforts to promote the human resources service industry over the last few years. The size of the human resources service sector has been expanding, with an average annual increase of around 20 percent over the past three years.


As of the end of September, Shenzhen had 531 human resources service agencies. In 2017, the city’s human resources service agency sector posted income totaling 28.9 billion yuan and taxes totaling 1.25 billion yuan.                                                  (Zhang Qian)

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