Six Wuxi companies recently made a deal with Shanghai-based SIM Share Incentive Mechanism Research Institute to initiate employee stock ownership plans (ESOPs), reported the Wuxi Daily.

The companies, involved in foodstuffs, communication devices, Internet of Things, and health food, took the action for long-run development and low employee mobility. ESOP shareholders can enjoy stock ownership, appreciation rights and control rights.

Wuxi authorities announced they will guide local companies to create incentive mechanisms for talented people.

The research institute, focusing on ESOPs and professional employee share schemes, also set up a Wuxi branch on Dec 12.