Guiyang revises rule for newly-introduced talent contribution award

The Guiyang municipal bureau of human resources and social security has recently revised the implementation rules for a newly-introduced talent contribution award in Guiyang and Guian New Area.

According to the rules, executives and core talents of key industrial enterprises who are newly introduced and have an annual salary (pre-tax) exceeding 500,000 yuan ($68,649.71), and who have signed labor contracts of at least five years, will be rewarded based on the local portion of their salary income tax for their contribution to local economic and social development.

The applying enterprise's main business needs to be in line with the Guiyang and Guian key development industries catalog, and it should be registered within Guiyang and Guian.

The enterprise should have an independent legal personality and must comply with Guiyang and Guian's tax and social insurance payment regulations.

Applications for the talent contribution award will be submitted collectively by the enterprise. Individual applications will not be accepted.

The award will be accepted year-round, based on monthly reviews and disbursements. The same individual can apply for the award for up to five consecutive years, and the reward for the previous year's contribution will be disbursed in the current year.