Pudong's youth policy attracts over 1,000 applicants in first month
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More than 1,000 young professionals have applied for low-rent housing and startup space since Pudong launched its 15 new measures to support young talent in innovation and entrepreneurship, which took effect on May 1.
Over 100 applicants have signed contracts, with 86 percent holding master's or doctoral degrees and 30 percent being international students. This response highlights growing interest in Pudong's efforts to lower the cost of living and starting a business for young innovators.
Under the policy, Pudong is rolling out two batches of 1 million square meters of affordable space over three years.
The first batch offers startup spaces at a daily rent of no more than 1 yuan ($0.14) per square meter. This year, more than 300,000 square meters are planned, with 129 startup spaces already launched. These facilities prioritize industries such as integrated circuits, artificial intelligence, and biomedicine, and are backed by national and municipal-level incubators. In addition to low entry costs, they offer shared laboratories, financing support, and investment matchmaking services.
The second batch includes youth apartments with monthly rent capped at 2,000 yuan. This year, more than 8,000 units are planned, with 14 high-quality housing projects already open for application. Located in areas with industrial clusters, talent hubs, and convenient transportation, such as Zhangjiang, Lujiazui and Waigaoqiao, the apartments feature dedicated service teams, shared spaces, and community events to enhance the living experience for young professionals.
Source: Shanghai Observer