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Shenzhen seeks to slow down population growth with changes to incentive structures
- The southern tech hub grew to 17.56 million in 2020, blowing past its 2016 target of 14.8 million
- The city, known for loose residency rules and generous financial support, wants to make itself a little less attractive for the well-educated
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Shenzhen, China’s southern technology capital, is doing away with incentives and preferential policies designed to attract highly educated workers as its population grows faster than expected.
Beginning in September, the tech hub will no longer offer financial support to bachelor’s and master’s degree holders seeking a residency permit, an announcement on Friday posted to the website of the Shenzhen Human Resources and Social Security Bureau.
According to the statement, more policies will be announced in the future, addressing newcomers under 35 years old who hold a PhD and are seeking a residency permit.
This comes soon after the city announced tighter requirements for residency permits for degree holders as well as those seeking a permit through marriage, according to an updated draft of the policy released last week.
With loose residency rules and relatively generous financial support, Shenzhen’s population grew to 17.56 million by 2020, blowing past the target of 14.8 million sets in 2016 with an annual growth rate of 5.35 per cent, according to census data released last month. Beijing and Shanghai, two other major metropolises, grew at only 1.1 and 0.8 per cent, respectively, with stricter rules in place to curb growth.
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