Cheaper homes to attract talent, ensure balanced growth in Wenzhou

Wenzhou, a city in Zhejiang province, has become very popular on social networking sites because of its talent housing policy.

Under the policy, announced by the local government in December, qualified and "excellent" undergraduates living and working in Wenzhou can enjoy a 30 percent discount when they buy a house in a special talent area or a 70 percent discount when renting a house there. Factors such as education, major studied and achievements will be considered when deciding an applicant's talent level.

On Tuesday, the city government invited applications for the first batch of more than 1,700 houses for talented people.

The policy says the area can be used for housing and the houses cannot be sold for 10 years, to stop the entry of real estate sharks.

According to the authorities, the idea is to create better infrastructure and attract more talent to Wenzhou. As housing is a big problem for the young people who live and work in urban areas, providing affordable housing is a policy that can attract talent.

Following the novel coronavirus outbreak, Wenzhou is also giving subsidies to workers who have moved to the city for the first time and signed one-year contracts with local enterprises.

The main players in the hunt for talent are almost always first-and second-tier cities. However, Wenzhou's policy shows the practice is gaining ground in third-and fourth-tier cities. Several third-and fourth-tier cities－such as Hengyang in Hunan province, Weihai in Shandong province and Zhumadian in Henan province－have provided house-purchase subsidies or made it easier for outsiders to gain residency to attract talent this year.

This trend in mid-sized cities is good for China's rapid urbanization and the development of city clusters. As first and second-tier cities are not the only choices for talented people, regional development will be more balanced.