New policy to boost employment for local youth in Hengqin

The latest policy introduced to boost employment for Macau’s youth in the Guangdong-Macao In-Depth Cooperation Zone in Hengqin is set to expand career opportunities and ease financial burdens for businesses, according to experts and local enterprises.

Recently, the livelihood affairs bureau of the Hengqin Zone announced interim measures aimed at enhancing job prospects for young adults from Macau.

These measures, which will take effect on February 1 and remain in force for three years, are designed to attract more young Macau residents to work in the zone, offering both financial incentives for workers and businesses.

Under the new policy, each eligible young worker employed in Hengqin can apply for an employment subsidy of 4,000 yuan (about $548) per month.

This subsidy can be claimed for up to 36 months. Additionally, workers who participate in vocational skill assessments at accredited organizations and earn relevant certifications will be eligible for a one-time subsidy equal to 30% of the assessment cost.

Employers are also set to benefit from these measures. For each young adult hired, businesses can apply for a monthly subsidy of 1,000 yuan per employee for up to 36 months. Employers who hire 30 or more young Macau workers within the same year will qualify for an additional one-time incentive of 200,000 yuan. The total incentives that can be granted to a single employer are capped at 1.5 million yuan annually.

Moreover, Hengqin employers can apply for a full subsidy covering their portion of the monthly social insurance contributions for employees for up to 36 months.

Support for young workers and employers

Xu Fengmei, deputy director of the livelihood affairs bureau, emphasized that the new policy is specifically designed to support young Macau residents.

As cited in a China Daily report, she expressed hope that the measures would not only attract more young people to build careers in Hengqin but also contribute to the broader development of the zone.

“Many enterprises in Hengqin are in the early stages of growth,” Xu said.

“The provision of subsidies will help reduce operational costs for these businesses and encourage them to recruit more young workers. This will allow companies to focus more resources on research and development, as well as production.”

Mao Yanhua, dean of the Institute of Regional Openness and Cooperation at Sun Yat-sen University in Guangzhou, Guangdong, echoed Xu’s sentiment. He stated that the policy will help narrow the income gap between Macau and Hengqin, making it more attractive for young people in Macau to seek employment across the boundary. Mao believes that the new policy will have a significant positive impact in the short term.

Meanwhile, in addition to the latest employment measures, Hengqin has introduced a variety of supportive policies to assist Macau entrepreneurs in setting up and expanding their businesses within the zone.

These include tax concessions and rent relief, all designed to attract businesses and foster economic growth.

Liu Xuemei, deputy general manager of the investment and development department at Zhuhai Huafa Technology Industry Group Co., which operates in Hengqin, noted that Hengqin’s preferential policies would increase the confidence of young Macau residents.

He pointed out that Hengqin offers more development space compared to Macau, which is limited by land and industrial resources.

Liu also mentioned that Huafa is collaborating with local universities to offer training programs for young people from the SAR. Graduates will have the opportunity to work at Huafa’s e-commerce industrial park and other companies in Hengqin, giving them access to greater career prospects and growth opportunities. Staff Reporter

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New policy to boost employment for local youth in Hengqin

New policy to boost employment for local youth in Hengqin

New policy to boost employment for local youth in Hengqin

New policy to boost employment for local youth in Hengqin

New policy to boost employment for local youth in Hengqin