The second version of the Taizhou Talent New Policy, an upgraded recruitment initiative rolled out by the city in July, is promoted in the city's Jiaojiang district on Sept 28. [Photo/taizhou.com.cn] 

The second version of the Taizhou Talent New Policy, an upgraded recruitment initiative rolled out by the city in July, was promoted in the city's Jiaojiang district on Sept 28.

The upgraded version focuses on recruiting high-level talent, university graduates, and skilled workers.

College graduates aged below 35 are now eligible to receive subsidies of over 600,000 yuan ($86,956.52) to help them find employment, start businesses, and purchase property in the city. People with a doctor's degree must be aged below 45. Subsidies for Taizhou-born graduates of famous universities will be increased by 30 percent.

Skilled workers are enjoying the same policy treatment as high-end talent, according to the new policy.

A more flexible recognition system has also been put in place, which grants employers subsidies for hiring high-profile talent.

In addition, startups in Taizhou are now eligible to apply for the right to use an office with a floor space of up to 5,000 square meters for free for three years.

A maximum of 150 million yuan for multiple rounds of equity investment will also be provided.

In addition, the city plans to ramp up efforts to cultivate local talent with the aim to foster 500 skilled workers and 50 start-ups within the next five years.

As of September, 27 people had been recognized as high-profile talent in Taizhou, with 58 waiting to be evaluated.