SHENZHEN will work to guarantee housing for young talents from Hong Kong and Macao. Eligible Hong Kong and Macao residents can apply to rent or purchase talent housing, the Shenzhen Evening News reported.

Additionally, the city will study and formulate preferential policies regarding rental and living subsidies for the group.

The move is one of the preferential policies to be provided by the Shenzhen government to help youths from the Hong Kong and Macao special administrative regions start businesses in the city in the coming years.

According to the work plan formulated by the municipal government, qualified Hong Kong and Macao residents can enjoy various entrepreneurship subsidies in terms of social insurance, office rent and more, and selected entrepreneurship projects will be funded.

Hong Kong and Macao youths who work in Shenzhen and are recognized as overseas high-end talents or talents that are in short supply will be able to enjoy favorable personal income tax deductions. A tax subsidy that is exempted from personal income tax will be granted to these talents.

To improve the entrepreneurship environment, Shenzhen will strive to cultivate a number of innovation and entrepreneurship bases for youths from Hong Kong and Macao based on existing incubation providers. It will also encourage enterprises, universities, scientific research institutes and other social forces to build a new batch of innovation incubation bases for youths from Guangdong, Hong Kong, and Macao.

Meanwhile, the city will join hands with Hong Kong and Macao to build a high-end technological innovation platform and establish a number of innovation centers and public service centers to provide R&D, technology transfer and consulting services for startups.

Shenzhen will further expand exchanges and cooperation between local youths and their Hong Kong and Macao counterparts. To this end, the city will establish a coordination mechanism for youth development between Shenzhen, Hong Kong and Macao, and set up the Qianhai-Hong Kong-Macao Youth Association.

Moreover, Hong Kong and Macao students will be encouraged to take internships in Shenzhen through a number of internship programs. Local universities and colleges are also encouraged to organize various kinds of innovation exchange activities for Guangdong, Hong Kong and Macao youths.

According to the work plan, by 2020, Shenzhen will turn the Qianhai innovation and entrepreneurship base into a leading demonstration area where young people from Hong Kong and Macao can settle down to start up innovative undertakings.(Zhang Yu)