Qualified entrepreneurial teams from Hong Kong can now rent office space in the Qianhai Shenzhen-Hong Kong Youth Innovation and Entrepreneur Hub (E-hub) for only 1 yuan (US$0.14) per square meter per month, according to a series of new initiatives announced by the Qianhai Authority on Monday.

To qualify, startups must operate in industries such as artificial intelligence, embodied intelligence, and life and health technology. They must secure equity investment from professional investment institutions or obtain funding from the Hong Kong Special Administrative Region Government, statutory bodies, or universities.

Additionally, the proportion of Hong Kong residents among the company's employees must exceed 50%, and the legal representative or at least one shareholder must be a permanent resident of Hong Kong.

An E-hub Fund has been established to attract long-term capital for supporting infrastructure projects and the growth of tech enterprises within the E-hub.

The Qianhai Authority has also revised the 12 measures supporting employment and entrepreneurship for individuals from Hong Kong and Macao in Qianhai, which were introduced last year.

Under the revised measures, young people from Hong Kong and Macao can receive employment subsidies of up to 8,000 yuan per month, living subsidies of 2,000 yuan per month, and housing subsidies of 1,000 yuan per month. Hong Kong and Macao enterprises can receive entrepreneurship rewards of up to 1 million yuan based on the actual funding received for their projects.

In addition, the Qianhai Hong Kong Youth Short-term Apartments located at the E-hub Northern District were officially put into use, offering 93 sets of apartments for Hong Kong residents free of charge. Hongkongers seeking jobs, internships, employment, or entrepreneurship in Qianhai can live in the apartments for free for seven days.

Those who have received an invitation to settle their companies in the E-hub or have signed a labor contract with a Qianhai-based company can live there for free for one month.

Furthermore, the Qianhai Hong Kong Youth Short-term Apartments in the E-hub's Northern District have officially opened, providing 93 apartments for Hong Kong residents. Individuals from Hong Kong seeking jobs, internships, or entrepreneurial opportunities in Qianhai can stay in the apartments for free for up to seven days. Those who have received an invitation to establish their companies in the E-hub or have signed a labor contract with a Qianhai-based company are eligible for a free monthlong stay.