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Guangzhou to build new apartments for professional talents | Updated:2017-10-24

Huangpu district in Guangzhou city, Guangdong province, plans to build more apartments for professional talents.

To attract high-level personnel from all over the world, Huangpu district will also provide apartments for the personnel's parents and offer qualified teaching resources for their children. This is the first policy of this kind in the country.

Earlier this April, Ren Xuefeng, Party chief of Guangzhou, explained that the city was in urgent need of skilled and talented personnel as Guangzhou is in a critical period of adjusting economic structure and building itself an innovative city.

On May 12, the district announced 10 preferential policies to lure talented personnel and 10 concerning intellectual property.

To carry out the policies, Guangzhou Development District Talent Work Group Company, a State-owned enterprise, was founded with a registered capital of 10 million yuan ($1.51 million) on Aug 7. It is committed to asset operation businesses including enterprise headquarters management, hotel management, house rental and real estate investment.

Chen Yongyu, one of the makers of the preferential policies, was appointed as legal representative and chairman of the company. Chen said that the preferential policies require the real estate development projects to set aside more than 5 percent of the constructions for talented personnel with preferential rent.

According to Chen, the apartments for talented personnel will include three types. The first type will be built by property developers, which are expected to be handed over by 2019 and will account for one third of the total amount. The second will integrate with existent houses owned by the government for the use of talented personnel. The third will be released via preferential policies for land application and build apartments for the talents. 


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