SHANGHAI on Wednesday announced a series of favorable policies including household registration and housing to attract talents and promote the employment of fresh graduates.

The megacity in East China has eased restrictions on household registration in its suburban new areas for fresh graduates from both Shanghai and other cities while extending the application period.

In 2022, Shanghai will add 25,000 new rental housing units for talents, and provide a batch of affordable, long-term, and stable rental housing for fresh graduates working in the city.

The policies also include increasing incentives for introducing and recommending talents, reducing the rent and tax burden of talent-intensive enterprises, increasing financial support, and promoting innovation in the science and technology industries.

China is expected to see 10.76 million new graduates from universities and colleges this year, 1.67 million more than last year, the Ministry of Education (MOE) said.

Meanwhile, the Beijing Municipal Government has introduced 17 measures to promote the high-quality development of the human resources service industry in the Chinese capital.

The measures aim to promote the transformation and modernization of the human resources service industry, and facilitate the listing of human resources service enterprises on the Beijing Stock Exchange.

Eligible enterprises can receive a subsidy of no more than 3 million yuan (US$445,500) as listing funds, according to the city’s bureau of human resources and social security.

The city also plans to build five to 10 state and municipal-level human resources service industrial parks by 2025.

By the end of 2021, there were 2,567 human resources service institutions operating in Beijing, with a total revenue of 346.9 billion yuan. (Xinhua)