The Management Authority of Heqing New Area of Zhuhai, China issued the Subsidy Measures for Employment and Entrepreneurship of Hong Kong and Macao Residents in Hengqin New Area (hereinafter referred to as the Subsidy Measures) on 22 November 2020, which shall be implemented from the date of issuance to 31 December 2022.  The main contents of the Subsidy Measures are as follows:

1. Social Insurance Subsidies for Employers to Recruit Hong Kong and Macao Residents
   
   For enterprises (except government institutions and labour dispatch units)  registered in Hengqin New Area and Hongwan Area with real offices in the region, recruit Hong Kong and Macao residents, sign labour contracts with a term of more than one year, and pay social insurance premiums in accordance with laws and regulations, full subsidy will be given according to the contributions of basic pension, medical (maternity), unemployment and work-related injury insurance paid by the enterprise for Hong Kong and Macao residents every month. The maximum accumulative period of subsidy shall not exceed one year.
   
   
2. Employment Subsidies for Employees from Hong Kong and Macao
   
   For Hong Kong and Macao residents that are hired by small and medium-sized enterprises, individual businesses, social organizations and other employing units (except labour dispatch units) registered in Hengqin New Area and Hongwan Area, sign labour contracts for one year or more and pay social insurance premium for more than three months in accordance with laws and regulations, a one-time subsidy of RMB3,000 will be provided. Each qualified personnel can only enjoy such subsidy for one time.  
   
   
3. Entrepreneurship Subsidies for Hong Kong and Macao Residents
   
   For enterprises invested by Hong Kong and Macao residents or university graduates from Hong Kong and Macao with more than 50% equities in Hengqin New Area and Hongwan Area, and have completed the employment registration in accordance with laws and regulations, a one-time subsidy of RMB30,000 will be provided. Eligible enterprises or the same legal person can only enjoy such subsidy for one time.

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