The number of high-end professionals working and living in Ningbo has grown by an average annual rate of 17.9 percent since the launch of the 3315 Series Plan in 2011. [Photo/cnnb.com.cn]

Ningbo unveiled an upgraded recruitment initiative, the 3315 Series Plan, on Dec 1, as it looks to attract more skilled workers to bolster local economic development.

An official at the Ningbo municipal office of talents revealed that the local government will provide greater support for high-end professionals seeking employment in the city.

The city will offer more incentives and preferential policies in terms of financing, housing, transportation and medical services, according to the 2020 version of the 3315 Series Plan.

Skilled professionals who work in Ningbo for a short term will also enjoy the same privileges, the document said.

Another prominent change in the plan is the lowering of academic requirements for research team leaders from a doctoral degree to a master's.

In order to reduce the start-up capital pressure, the threshold for the registered capital of start-ups has been slashed to two million yuan ($298,507.4)  from 5 million yuan.

Ningbo has seen outstanding results in expanding its talent pool in recent years, which has helped fuel its vibrant economic growth.

Ningbo's GDP exceeded 1 trillion yuan in 2018 for the first time. This year, the city made the list of the top 10 happiest cities in China, the 10th year in a row that the city has won the award.

The number of high-end professionals working and living in Ningbo has grown by an average annual rate of 17.9 percent since the launch of the 3315 Series Plan in 2011.

The number of enterprises established by skilled workers in Ningbo has climbed to 345, among which 68 are valued at over 100 million yuan.