Shanghai's policy to encourage entrepreneurship and promote employment has once again undergone a series of changes. The scope of its supportive policies related to entrepreneurship has been expanded, according to the Shanghai Municipal Human Resources and Social Security Bureau. 

According to the latest Notice on Matters Related to the Implementation of the Municipal Special Action Plan on Encouraging Entrepreneurship and Promoting Employment, Shanghai has increased its support for entrepreneurship beyond the social security subsidies, rental subsidies, carrier subsidies and first-time entrepreneurship subsidies currently being offered. 

For college graduates with a Shanghai hukou (household registration) and those unable to find a job within two years after graduation, the policy has added a one-time subsidy of 8,000 yuan ($1193.42) for first-time entrepreneurs, as well as a subsidy to entrepreneurial teams still in the incubation stage. 

The new policy has further expanded in scope, now covering those who hold a Shanghai residence permit, overseas personnel residence permit, Hong Kong, Macao or Taiwan residence permit, and overseas returnees, in order to encourage domestic and overseas innovation and entrepreneurship personnel to come to Shanghai.

From 2009 to 2017, Shanghai has successively implemented three rounds of its three-year action plan to encourage entrepreneurship and promote employment. It has helped 106,000 entrepreneurs achieve success and 825,000 people find jobs.

In 2018, Shanghai launched the fourth round of its specific action plan, which aimed to help 50,000 entrepreneurs in the next five years. It also aimed to help business start-up organizations create no less than 300,000 jobs within three years of being established and proposed specific indicator requirements on developing entrepreneurial carriers of communities, campuses and industrial parks.