Nantong publishes the latest preferential policies for talents at the 2021 Nantong Jianghai Talent Entrepreneurship Week on Nov 29. [Photo provided to chinadaily.com.cn]

Nantong in East China's Jiangsu province published the latest preferential policies for talents at the 2021 Nantong Jianghai Talent Entrepreneurship Week held in the city on Nov 29.

The city has increased its subsidies for high-level innovation and entrepreneurial talents, with the highest subsidy being 5 million yuan ($784,000) per person.

Nantong will establish a Jianghai Talent fund to encourage local commercial banks and technology banks to offer startup businesses by high-level talents a maximum loan of 15 million yuan.

Talents with a master's degree or above will receive a house purchasing subsidy of up to 1.5 million yuan if they work in Nantong, while those with a junior college diploma or above will receive rent subsidies every month.

Universities have also been encouraged to introduce high-level teaching staff members who will receive a house purchasing fund of up to 2 million yuan per person.

A one-time incentive of 500,000 yuan will be given to those who introduce projects that achieve annual sales revenues of more than 50 million yuan for three consecutive years after beginning operations in Nantong within five years.