Hohhot city – capital of North China's Inner Mongolia autonomous region – has issued the guide 10 Policies for Attracting Talents in Hohhot (for Trial Implementation), in a move to expand recruitment of top-flight people and boost regional economic growth, according to local media reports.

The initiative maps out attractive services to be offered in areas including housing security, children's schooling, spouse employment and parents' living allowances.

The policy also provides strong financial support, rewards and incentives.

Qualifying entrepreneurial talent can apply for a guaranteed loan of up to 500,000 yuan ($77,150) to conduct business activities in the region. 

Small and micro-sized enterprises can apply for a guaranteed loan of up to 3 million yuan for business start-ups. Companies with good development prospects and a big workforce can apply for a guaranteed loan of up to 6 million yuan.

Within five years of graduation, college students who set up innovation-based enterprises can access a free grant of up to 200,000 yuan, after evaluation.

Rewards will be given to new hires at strategic emerging industry enterprises. Those who have signed a labor contract with a company for more than five years will be rewarded with a one-off talent award of 50,000 yuan for those with doctorates and 20,000 yuan for postgraduates after one year's work.

The policy backs small, medium and micro-sized enterprises to recruit college graduates who have not been employed within two years of graduation.

Small and micro enterprises that have signed a labor contract for more than one year and paid social insurance in accordance with the law, will get a grant of 2,000 yuan for each new hire.