SHANGHAI :
China to Retain Talent in Hubei's Capital Wuhan, Boosting Grads' Salaries, Lowering Property Prices by a Fifth
Xu Wei
DATE:  Aug 28 2017
/ SOURCE:  Yicai
China to Retain Talent in Hubei's Capital Wuhan, Boosting Grads' Salaries, Lowering Property Prices by a Fifth China to Retain Talent in Hubei's Capital Wuhan, Boosting Grads' Salaries, Lowering Property Prices by a Fifth

(Yicai Global) Aug. 28 -- Wuhan, the capital of Hubei province aims to retain millions of students and will advance three projects to that end. Under one of them, college students will be able to buy houses for 20 percent lower than market prices, Wuhan will also set up minimum annual salary standards for college graduates.

Wuhan will allow undergraduates to register and get a hukou, a record of local citizenship once they graduate, making it the first city in China with such a program, said Chen Yixin, deputy secretary of the CPC Hubei Provincial Committee and secretary of the CPC Wuhan Municipal Committee.

Wuhan will open 3,600 off-campus apartment suites covering more than 500,000 square meters this year and aims to satisfy the housing rental and purchasing demand of 200,000 undergraduates within five years. The city will encourage enterprises to leverage internet technologies when making housing available.

The city will issue minimum annual salary standards for university grads, and require its backbone enterprises, their chairmen, the vice chairmen of industry and commerce associations and the chamber of commerce to increase wages, said Chen.

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Keywords:   Hubei,REAL ESTATE,Wuhan