SHENZHEN will provide the first batch of 1.9 million yuan (US$281,200) in employment aid subsides to some 483 companies in the city who have recruited fresh college graduates, according to information released by the Shenzhen Municipal Human Resources and Social Security Bureau.

In order to encourage companies to recruit fresh graduates, the city decided to offer subsidies to companies that have signed labor contracts with higher education graduates (with graduation time from January to December this year) and have paid them unemployment insurance premiums for more than a month.

Companies meeting the requirements can enjoy a one-time subsidy of up to 1,500 yuan per new employee. The policy is valid until the end of December.

At present, the city has finished reviewing materials of the first round of qualified companies. The list is being published for public opinions. The money will be given out after this.

The bureau has issued a batch of measures to spur the employment of fresh college graduates.

As of the end of July, the city had reduced corporate burden by nearly 13 billion yuan in total. Moreover, data showed that the city gave out over 300 million yuan in employment subsidies to over 59,000 people from January to June, according to Shenzhen Special Zone Daily.  

(Wang Jingli)