A residential building in Shanghai. [Photo/IC]

Changning district's revised housing policy for attracting overseas returnees from top universities is paying off.

The favorable policy, which was issued by the district government in February, made talent apartments and housing subsidies available for more students studying abroad and returning to Shanghai for work.

According to the policy, each eligible applicant can apply for specialized talent apartments with housing subsidies of up to 45,000 yuan ($6,685.78). The policy aims to attract talents with specialized skills and support those trying to fit into the city in a short amount of time. The subsidy is only provided for up to 12 months.

After the policy was released in February, it aroused the interests of talents and enterprises. According to Changning district's human resources (HR) and social security bureau, since the end of February, many overseas talents have submitted applications, and a number of enterprises have attracted and recruited urgently-needed talents thanks to the policy.

The first batch of 100 talent apartments that were unveiled following the release of the policy have been fully booked as of mid-June.

Mr. Bian, who graduated from the University of Illinois in the United States and joined Ctrip as a back-end R&D engineer, benefited from the policy and got the key to a talent apartment in Changning.

When Bian returned to Shanghai at the beginning of this year, he encountered issues with his housing situation while searching for work. The new policy allowed Bian to simultaneously apply for a talent apartment while pursuing development opportunities in Shanghai.

In recent years, Changning has been focusing on meeting the housing needs of returnees and recent graduates. It aims to seize the opportunity presented by building the Hongqiao International Open Hub and an international boutique urban area with a global influence.

The revised policy removed the restriction that talents could only apply for talent apartments located in regions where they were working, and only their employers could apply. Students who are still studying at a college or university can also apply.

At the end of February, a student surnamed Lou, who was about to graduate from Johns Hopkins University in the United States and return to China, learned about the policy. He submitted the application materials online, and his application was approved two days later. In May, Lou returned to China after completing his studies. After completing quarantine protocols in Shanghai, he successfully moved into a talent apartment in late June.

Since the implementation of the policy, it has not only helped returnees solve the housing difficulties and make it easier for them to work or start businesses in Shanghai, but also has helped enterprises recruit urgently-needed overseas talents.

In early March, Bosch headquarters in Shanghai learned about this policy through Changning's service group for key enterprises. Bosch immediately sent an email including the policy introduction, application conditions and procedures to all employees. During the follow-up recruitment activities, the company actively promoted the policy and successfully introduced a doctoral student surnamed Lu, who graduated from Oxford University with a degree in control engineering. Lu moved into an apartment that is only a 10-minute walk away from his workplace in late March.

An HR representative from Bosch China said that during daily recruitment activities, returnees generally express that they encounter problems such as the difficulty in renting a house after returning to China, and hope a solution could be found during the transition period. The policy is a solution, and enhances the attractiveness of employers. During the interview process, HR representatives also helped qualified candidates to apply on their mobile devices.

According to a Changning district's human resources and social security bureau official, in the next step, Changning expects to roll out more talent apartments and try their best to meet the housing needs of returnees.

The district also plans to actively provide settlement, employment and entrepreneurship services for the resident talents, and continue its efforts to attract global talents in order to make Shanghai the first choice for overseas returnees.