• Granting properties as rewards to committed employees
• Must stay for five years with the company

A Chinese company has drawn admiration and envy from social media users after its CEO announced a plan to distribute 18 apartments as incentives for employee retention, allowing employees to receive a property only after five years of service with the company.

A recently published job announcement revealed that employees who commit to working for the company for five years will receive a free apartment.

The company is located in Wenzhou, Zhejiang Province, southeastern China, and specializes in producing vehicle-specific fastening tools.

It employs over 450 staff, and the company’s total output value reached 490 million yuan (about 70 million USD) in 2024.

Wang Jiayuan, the company’s general manager, explained that Wenzhou has a large population of migrant workers, and the company aims to reward skilled technical and managerial staff.

He told a local newspaper: “This year we distributed five apartments, and we plan next year to allocate eight more apartments, totaling 18 apartments over three years. Our goal is clear: attract top talent and retain our core management team.”

He added that all apartments are within a 5-kilometer radius of the company headquarters, ranging in size from 100 to 150 square meters, with the average price per square meter for used apartments in the area between 7,000 and 8,500 yuan (around 990–1,200 USD).

A couple of employees have already received an apartment measuring 144 square meters.

Employees are required to sign a housing agreement and move in after the company finishes renovating the apartments, so that ownership is officially transferred after completing five years of service, with renovation costs covered.

Wang also noted that the company has invested more than 10 million yuan to purchase the 18 apartments.

He added that the jobs require relatively high skills, which cannot be mastered quickly by new graduates but need time and experience.

He explained that the goal of this initiative is to reduce operating costs and improve quality management.

Tuo Kaixun, chairman of the board, pointed out that the initiative also aims to reward mid-level managers and attract talent from major cities like Shanghai and Suzhou to relocate and settle in Wenzhou.