SIP launched the Housing Rewards mechanism on Mar 17, starting to offer talents rewards and subsidies for house purchasing and renting, children's schooling and medical care spending. The first reward went to 18 talents on the same day, including the one who took home more than RMB 830,000, the highest of all.

It is noteworthy that the new mechanism is not only targeted at leading and high-caliber talents. People who work in SIP and have paid certain amount of individual income tax in total will have the chance to receive the rewards and subsidies for buying a house and improving their living conditions. In the first move, a total of more than RMB 20 million will be granted to 300 eligible candidates.

According to Pan Yu, deputy director of SIP Talent Service Office, the local authority has allocated RMB 500 million for attracting talents, and the highest housing allowance under the mechanism will reach RMB 5 million.