24 June 2023
The Human Resources and Social Security Bureau of the Shenzhen Municipality (“the authorities”) issued the “Notice in relation to Various Measures for Promoting High-quality Development of New Era Human Resources Service Industry in Shenzhen Municipality” (“the Notice”) on 24 June 2023. The authorities announced to accelerate the promotion of high-quality development of Shenzhen municipal human resources service industry, include promoting the establishment of the exchange and cooperation mechanism for the human resources service industry in the Guangdong-Hong Kong-Macao Greater Bay Area and vigorously attracting globally well-known human resources service institutions from Hong Kong, Macao and worldwide to settle in Shenzhen Municipality. Meanwhile, human resources service institutions of Fortune Global 500 companies, China's Top 500 companies, and China's Top 500 Service Enterprises, which set up branch offices in Shenzhen Municipality, will each receive a settlement award of RMB5 million, RMB3 million, and RMB2 million, respectively. These measures shall be effective from 10 July 2023, and valid for five years.