Shenzhen attracts top talent to grow as hub of innovation

In a bid to strengthen its position as a global innovation hub, the city of Shenzhen, Guangdong province, on Nov. 1 unveiled a 30-point plan to attract top talent from around the globe.

The plan encompasses a wide range of initiatives and incentives to foster an ecosystem that encourages entrepreneurship, research and technological advancements.

Top talent that settles in Shenzhen will be provided with a "policy package" including career platforms, research funds, team support and living subsidies if they work in fields such as integrated circuits, artificial intelligence, biomedicine, new energy vehicles, new energy storage, high-end equipment, marine industry, low-altitude economy or new materials.

The plan introduced a "dreams come true in Shenzhen project "together with a "dream startup fund" to match the city's goal of "providing everyone with an opportunity to shine in life".

"Through open recruitment, a batch of talent dream projects will be selected each year to receive financial support. Project selection is not limited to any specific industry or level, and there are no barriers or prerequisites as Shenzhen aims to become a desirable destination, a gathering place, and a land of dreams for talent from all fields," the plan said.

To cultivate an innovation culture that embraces failures and fosters tolerance toward them, the plan said Shenzhen will establish a talent utilization mechanism based on trust and allow them to make mistakes.

Shenzhen will give full authority to top scientists by granting them the authority to make decisions regarding personnel, financial resources, material resources, technological directions, internal organizational structures and talent recommendations, the plan added.

Wei Jianzhang, vice-president of the Belt and Road Initiative's International Cooperation and Development Research Institute in Shenzhen, said Shenzhen's new plan demonstrates the city's unwavering commitment to attracting global talent and fostering a thriving innovation ecosystem.

"Attracting top talent from around the globe is essential for the development of a city as it fuels innovation, drives economic growth, promotes knowledge exchange, enhances global competitiveness, retains local talent and enriches the cultural fabric of the city," said Wei, adding that in today's interconnected world, cities compete globally for investment, resources and talent, and by attracting top talent a city can enhance its competitiveness on the global stage and appeal for further investment and collaboration.

"By creating an environment that offers attractive policies, support and opportunities, Shenzhen aims to become a magnet for top talent from around the world, and with its ambitious initiatives and strategic vision, I believe the city is poised to solidify its position as a global leader in innovation and technology," Wei said.