NextSharkNextShark.com
Latest Newsletter🍵 Kelly Marie Tran in racism studyRead

Article

The ‘Silicon Valley of China’ Will Give Entrepreneurs $1 Million Just to Move There

    Asian America Daily - in under 5 minutes

    Get our collection of Asian America's most essential stories, to your inbox daily, for free!

    Unsure? Check out our Newsletter Archive

    In an effort to lure in top talent, the southern Chinese city of Shenzhen is baiting millions of dollars for innovative minds to move to the area.

    Scholars and professionals who transfer to Shenzhen are eligible to apply to the government for a one-time payment of $928,000, nearly six million yuan, Forbes reported. According to local media, Shenzhen is willing to put out over $680 million or 4.4 billion yuan in 2016 to maintain its standing as China’s top entrepreneurial city.

    Shenzhen is located across the border from Hong Kong and has built itself up as a center for commerce, tech and international business. The city was established as China’s first special economic zone in 1980.

    The city’s government announced that they will be designating 10,000 apartments over the next half decade for professionals who flock to Shenzhen. Young professionals with bachelor’s degrees launching their careers after graduation will have the perk of applying for $2,320, or 15,000 yuan in subsidies for housing. Those with their master’s or PhD’s qualify for subsidies up to $3,867 and $5,414 or 25,000 to 30,000 yuan.

    Shenzhen has become a hub for innovators and has nicknamed itself China’s Silicon Valley. Tech giants in the city include Tencent, Huawei Technologies, drone manufacturer DJI and smartphone maker OnePlus.  

    Image via YouTube

    Support our Journalism with a Contribution

    Many people might not know this, but despite our large and loyal following which we are immensely grateful for, NextShark is still a small bootstrapped startup that runs on no outside funding or loans.

    Everything you see today is built on the backs of warriors who have sacrificed opportunities to help give Asians all over the world a bigger voice.

    However, we still face many trials and tribulations in our industry, from figuring out the most sustainable business model for independent media companies to facing the current COVID-19 pandemic decimating advertising revenues across the board.

    We hope you consider making a contribution so we can continue to provide you with quality content that informs, educates and inspires the Asian community. Even a $1 contribution goes a long way.  Thank you for everyone's support. We love you all and can't appreciate you guys enough.

    Support NextShark

    Mastercard, Visa, Amex, Discover, Paypal