The 2020 Hangzhou International Human Resources Exchanges and Cooperation Conference is slated to open on Nov 8. [Photo provided to chinadaily.com.cn]

Hangzhou in East China's Zhejiang province has given subsidies to more than 58,000 college graduates who selected the city to start their careers, local media reported on Nov 6.

College students who choose to work in Hangzhou and do not own a house in the city are eligible for the policy. Each will be offered an annual subsidy of 10,000 yuan ($1,496) for a maximum of three years.

College graduates can submit their applications to their employers, who will then review and submit the applications to the government.

Hangzhou will send the subsidies to applicants' bank or Alipay accounts after their submissions are approved.

To date, the city has offered more than 580 million yuan ($87.46 million) to nearly 58,000 college graduates.

Hangzhou plans to build 50,000 affordable apartments for skilled workers and will offer more subsidies for high-caliber talent.

Those recognized as A-level talent will receive a maximum of 8 million yuan in housing subsidies, while those identified as B, C and D will receive up to 2 million yuan.

The city also plans to set up a special fund to reward skilled workers from China and abroad. The city will also prioritize housing assistance for such workers.

Hangzhou has launched an e-card system for healthcare, transportation, online training and counseling for skilled workers, as well as education for their children.