Zhengzhou will be paying postgraduates who settle in the city £170 a month for three years
China’s second tier cities have long been shunned by university graduates. Now, the government is trying to reverse this trend and spur economic growth outside the capital. More than a dozen Chinese cities, mainly regional hubs, are offering lower income tax rates, help with housing and other public benefits to entice postgraduates.
The sky is the limit for highly qualified and talented postgraduates, who could be considered as leaders in their fields. The city of Zhengzhou is handing out cash payments of as much as £570,000 each.
The city government’s spokesman, Shi Dadong, defended the offer. He stated that it represented an investment in the future. “It’s like raising a child. You invest everything for him to go to school, and he will be able to buy a car in the future. If you don’t invest in him, you will never see the car.”
The competition for graduates has risen because China’s economy is slowing.
Sun Bushu, a deputy director for an urban research centre in southern China, spoke to the Southern Weekly. He said:
“As China’s economy shifts from low-cost, labour-intensive industries to rely more on the internet, financial services, and innovation, the demand for better-educated workers rises.”
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