College graduates in Wuhan, Central China's Hubei province. [Photo/WeChat account of Optics Valley of China]

More than 600,000 college graduates have chosen to work or start new businesses in the East Lake High-tech Development Zone (also known as Optics Valley of China, or OVC) over the past six decades. Let's have a look at what benefits they can enjoy this year.

Professional technicians or management talent aged 35 and under, especially graduates from renowned domestic or overseas universities, can apply to participate in the 3551 Optics Valley Talent Program if their total credits on the valley's talent registration service platform meet the annual requirement.

Talent included in the program will be granted 100,000 yuan ($13,930) in non-reimbursable funds for three consecutive years.

College graduates with degrees in science and engineering who agree to work at enterprises in the valley that focus on the research and application of IC, basic software and AI will receive housing subsidies ranging from 20,000 to 80,000 yuan depending on their educational backgrounds.

Professional IC technicians will receive 90,000 yuan in subsidies if they have a master's or vice-senior title, and 150,000 yuan if they have a doctoral degree or senior title. The subsidies will be distributed over the course of three years.

Small and medium-sized enterprises that have signed labor contracts for one year or more with college graduates who have graduated within the past two years, and those graduates, will both receive one-time subsidies.

College graduates who start their own businesses in the valley can take part in the China Optics Valley 3551 International Entrepreneurship Competition to earn awards or apply for municipal and provincial entrepreneurship loans with discounted interests and working venue rent subsidies.