Shanghai has released 22 measures aimed at attracting creative talent from abroad and transforming the city into a global technological innovation center.
Beneficial policies, including providing permanent resident permits for high-level overseas talent and giving subsidies to high-tech professionals, are designed to open Shanghai’s doors wider to the world.
High-level employees who have permanent jobs in Shanghai will get privileges such as quicker processing of their foreign expert permit and a loosening of the upper age restriction from 60 to 70 years old.
Requirements for high-tech and innovation employees have been lowered so that more permanent resident permits will be issued, valid for up to 10 years instead of the current five years, according to the measures announced on May 26.
“The enhanced recruitment system of foreign talent will be widely applied in universities, to help graduates find jobs and companies to hire high-tech overseas professionals,” said Chen Hao, the deputy director of the Shanghai Municipal Organization Department.
Chen added that people always play the core role in the growth of companies, which will eventually make a contribution to the development of the city.
In addition, the announcement stated that the government would offer financial and technical support to small and medium-sized enterprises involved in high-tech research and development of products. More innovative companies and individuals are to be attracted to the city to build up the community.
“The reduction in tax tariffs and these measures can help enterprises in the short term, but it is more important to build a more innovative business environment for both local and international companies to stay permanently,” said Yu Lei, a researcher with the Shanghai Academy of Social Sciences.
Meanwhile, the announcement of more support from the government has received positive feedback from the business community.
“We’ve got the shortcut to start up businesses with advice from the professionals to help us use a range of resources and communicate with a wider network of people in different industries,” said Sun Hao, the general manager of Shanghai Loyoo Information Technology Co, an e-commerce platform creating customized products.
The company has already benefited from support in the Zhangjiang high-tech park in Shanghai’s Pudong district.
By last year, Pudong had 22 high-tech business incubators, including 14 city-level ones, that assisted in helping more than 400 enterprises become professional high-tech companies.
“Those small and medium-sized private enterprises have become the key players bringing innovation into the city,” said Yu.
According to the proposal, by 2020 the city will complete the framework for an innovation center with global influence. By 2030, the core functions of a global innovation center will be in place.
“Construction of a technological innovation center will enhance the city with faster growth, which is already on the road to establishing an international economic center, a financial center, a trade center and a shipping center,” said Yu.