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Shanghai launches 20 policies to attract world-class talent

sh-italent.com Updated:2016-11-04

Shanghai has issued a series of policies aimed at promoting science and technology innovation, and attracting overseas and domestic talents. 

The policies are aimed at being more innovative, competitive, flexible and scientific, and will play an important role in science innovation and industrial transformation. They will also lure talent to aid the construction of a globally-influential science and technology innovation center. 

Among the policies includes the mutual coordination project of Shanghai Free Trade Zone and Zhangjiang National Innovation Demonstration Zone and a market evaluation and incentive mechanism.

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The transition from the distribution of temporary residence permits to permanent residence permits has been a big talking point. The policy dictates that eligible overseas high-level talents can apply for the 5-year working residence permit (as noted “talent”) with no age limit. Applicants must have worked in Shanghai for three years and must receive a recommendation from his or her company. 

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Foreign talents that have stayed in Shanghai for four successive years, live in China for no less than six months every year, have a stable job and living conditions and a salary and individual income tax in the standard bracket can apply for a permanent residence permit in China. The tentative salary and individual income tax standard bracket are 600,000 ($91,680) yuan and 120,000 respectively. 

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