Pudong to become hotbed for tech innovation
An offshore overseas talents base will be launched in Shanghai’s Pudong district, as a part of new measures released by the district government to develop the city into a global center for technology and innovation.
The 30,000-square meter base will be located in the China (Shanghai) Pilot Free Trade Zone, where the district government is planning to hold future technological exchanges with global hightech leaders from Silicon Valley in the United States and Tel Aviv, Israel. The Pudong government will also be working to develop the Zhangjiang hi-tech park into the premiere tech zone in China.
One of the perks of this new base is that companies within can now acquire offshore financing or develop their products in offshore laboratories.
“Some research projects carried out by companies in Pudong can acquire materials and funding from offshore sources,” said Ge Siping, the deputy director of the Organization Department of Pudong district, during a news conference on August 5.
Some of the latest measures also include providing talents with easy entry and exit to China, financial services as well as accommodation and lifestyle facilities.
“We are aiming to form a free port for international talents and become a hotbed for entrepreneurs by 2020,” said Sun Jiwei, the head of Pudong district.
The new measures stipulate that government agencies are now allowed to recruit high-level international talents to participate in the government-related projects. Local government officials are also permitted to hold a position in global companies and receive training by government departments and multinational organizations in foreign countries like the US and Singapore. A global training center for government officials will be launched in the district as well.
“This offshore overseas talents base is not just for those in tech companies and research institutions. It is also a place for district government officials to gain an international perspective,” said Sun.
In addition, the financial management regulations for high-level talents will be eased. It will now be easier to get foreign exchange settlements and apply for shares from overseas and offshore companies to make roundtrip investments. A green channel with loosened policies for overseas talents to exchange and bring in foreign currency will also be set up in Pudong.
“Pudong will play the role of attracting top talents and radiating global innovative elements. It will become the development center of the innovation industry and inspire creative thought in five years,” said Sun.
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