A new talent introduction policy was issued recently by the Zhenhai district government in Ningbo, East China's Zhejiang province.

This policy aims to introduce high-level talented individuals and teams in the areas of new materials, new energy, intelligent equipment manufacturing and other important industries in the district.

According to the new policy, a team can receive up to 10 million yuan ($1.42 million) in financial support, while an individual can receive at least 600,000 yuan. A company can acquire up to 10 million if it introduces an individual or a team to the district.

There are several incentives mentioned in the policy as well, including office space, financing, research and development support.

Benefits will be offered according to which of the following classifications the individual or team falls under – entrepreneurial individuals, innovative individuals, entrepreneurial teams, and innovative teams.

In addition, a team, in the policy, requires at least three people, including a leader and no less than two core members. The leader of a team, and an individual talent, should have attained a master's degree or above from a foreign university, or a doctor's degree from a domestic university.