Shanghai's Jinshan district will invest 300 million yuan ($47 million) in five years to develop its talent pool, local officials have announced.

The package plan consists of a general policy which provides a guideline for talent cultivation work, four supportive talent policies and four supplementary policies in specific sectors such as education and health care.

The new policies focus on bringing in and cultivating talents, establishing platforms for talents, encouraging entrepreneurship and improving services for talents, according to Shen Shanzhou, member of the standing committee of Jinshan district.

For example, a policy among the package plan promises support for innovative talents or urgently needed talents in ten aspects including housing subsidies, settlement of spouse and children's education.

Another policy pledges a housing subsidy of 600,000 yuan per person for talents settling in the district.

Under the policy, talents who want to start their own businesses in Jinshan district can apply for entrepreneurship funds worth 200,000 yuan to 1.5 million yuan. High-caliber talents or urgently needed talents will be granted a reward of 30,000 yuan to 100,000 yuan if they find a job in the district.

Shen Jie, a doctor at the Jinshan Hopsital of Fudan University is among those who have benefited from the talent policies in Jinshan district. Attracted by the preferential policies in the district, Shen moved from Jiangsu to Shanghai's Jinshan district.

Exclusive development opportunities such as these are attractive to young people, Shen said, adding that the new talent policy will encourage his young colleagues at the hospital to be more diligent.

The package plan also tries to break the limits, and explore new ways of talent cultivation and recognition.

The policy establishes a new appointment system, lifts some of the restrictions and offers subsidies to special talented people who due to lack of work experience and educational background may have been previously disadvantaged.