04 January 2024
The General Affairs Office of People's Government of Shenzhen Municipality (“the authorities”) issued the “Notice in relation to Employment Optimisation and Stabilization Policies and Measures to Promote Development and Facilitate People's Livelihood” (“the Notice”) on 4 January 2024. The authorities announced that the scope of target entrepreneurs in Shenzhen Municipality has been expanded to include residents of Hong Kong, Macao, and Taiwan. Entrepreneurs who establish start-up enterprises in Shenzhen Municipality and serve as legal representatives or operators of individual industrial and commercial households may enjoy start-up enterprises subsidies, rental subsidies, and entrepreneurship-driven employment subsidies in accordance with regulations. Meanwhile, the living allowance standards for the Greater Bay Area Youth Employment Scheme subsidy shall be increased to RMB2,000 per person per month. This Notice shall be implemented from 25 December 2023 and valid for 5 years.