Qingdao's Shinan district has recently upgraded its preferential policies for talents to attract more high-caliber workers to strengthen its industrial chain, technological chain and capital chain.

The new policies offer tailored incentives for different talents in different sectors such as innovation and start-ups, finance, creative culture, education and sports.

Subsidies of up to 8 million yuan ($1.16 million), 4 million yuan and 1 million yuan are expected to be offered to top-notch talents, national-level talents, provincial and ministerial-level talents, respectively.

Employing entities are also eligible for a maximum of 1 million yuan per person as an award for recruiting these talents.

Those with a doctorate and a master's degree who are employed in Shinan district are eligible for a one-off subsidy of 200,000 yuan and 150,000 yuan, respectively, for buying their first residence in the district.

In addition, the local government provides renting subsidies of 1,200 yuan, 800 yuan and 500 yuan per month, respectively, for employees with doctorate, a master's and a bachelor's degrees who have obtained a local hukou (household registration).

Internship subsidies of 3,000 yuan per person per month are also available to doctorate and master's degree candidates who serve as interns in Shinan-based companies.