Shang­hai in­tro­duces new measu res to achieve goal of science and in­no­va­tive hub

Los Angeles Times - - SHANGHAI - EX­PLORE MORE AT WWW.SHANG­HAIDAILY.COM

GEN­ERAL GOALS:

By 2020

Build up a frame­work struc­ture for a tech­nol­ogy i nno­va­tion cen­ter.

By 2030

For man in­no­va­tion- driven mod­ern de­vel­op­ment pat­tern in line with the char­ac­ter­is­tics of Shang­hai and China.

Ul­ti­mate goal

Be­come a world- class tech­nol­ogy in­no­va­tion cen­ter.

FOR COMPA NIES Sim­pler ad­min­is­tra­tive ap­proval pro­ce­dures

• Sim­plify ap­proval re­quire­ments on in­vest­ment, in­no­va­tive star­tups, pro­duc­tion and op­er­a­tion, high- tech­nol­ogy ser­vices.

• City- level de­part­ments, dis­trict and county- level gov­ern­ments must abol­ish thei r pri­vately es­tab­lished ad­min­is­tra­tive ap­proval re­quire­ments.

• Star­tups are al­lowed to change share­hold­ers vol­un­tar­ily in com­pli­ance with reg­u­la­tions. The Ad­min­is­tra­tion for I ndus­try and Com­merce will register the change with­out in­ves­ti­ga­tion.

Wider room for op­er­a­tion

• Ease en­try re­stric­tions for In­ter­ne­tre­lated fields and im­prove reg ula­tions over fi­nance, health care and ed­u­ca­tion com­pa­nies that have in­cor­po­rated with In­ter­net firms. En­cour­age cross- in­dus­try de­vel­op­ment.

• Ease rules for com­pany reg­is­tra­tion by al­low­ing con­gre­gated reg­is­tra­tion and multi- regis­tra­tions i n one ad­dress. Larger mar­ket for new- energy cars

• New- en­erg y cars and ve­hi­cles will be­come pre­ferred op­tion for busi ness and public trans­port.

• En­cour­age house­holds to pur­chase and use new- energy cars. More pref­er­en­tial tax poli­cies

• More ta x de­duc­tion for re­search and de­vel­op­ment spend­ing.

• Im­ple­ment state pref­er­en­tial tax poli­cies for in­no­va­tive in­vest­ment ac­tiv­i­ties on in­cu­bat­ing and startup com­pa­nies.

• Im­ple­ment changes by the state on con­di­tions for ven­ture cap­i­tal in­vest­ment in high- tech­nol­ogy firms, and al­low part­ners of part­ner­ships to deduct tax af­ter in­vest­ment.

• Tech­nol­ogy com­pa­nies that are con­sid­ered high tech­nol­ogy ac­cord­ing to a state stan­dard will pay com­pany i ncome tax at a 15 per­cent pref­er­en­tial rate.

Eas­ier list­ing for tech­nol­ogy and in­no­va­tive com­pa­nies

• Ac­cel­er­ate the set­ting up of a “strate­gic emerg­ing board” on the Shang­hai Stock Ex­change for non- prof­itable com­pa­nies of a cer­tain size to go public.

FOR SCIENCE & RE-SEARCH IN­STI­TU­TIONS

• Set up a mod­ern man­age­ment sys­tem for dif­fer­ent kinds of sci­en­tific re­search i nsti­tu­tions.

• Sci­en­tific re­search in­sti­tu­tions will have more op­tions to man­age and over­see their sci­en­tific re­search projects and tasks for the in­sti­tu­tions as well as for in­di­vid­ual per­son­nel. They will also be en­cour­aged to study a la­bor value dis­tri­bu­tion mech­a­nism.

• Cut­ting- edge sci­en­tific re­search in­sti­tu­tions shall de­velop a mul­ti­ple rev­enue chan­nel op­er­a­tion mode, in­clud­ing gov­ern­ment sub­sidy, re­search projects or works, and tech­nol­ogy ser­vice fees.

FOR TAL­ENTS

For in­no­va­tive tal­ents

• Team mem­bers from high schools and re­search i nsti­tutes should get not less than 70 per­cent of the to­tal i ncome made from their sci­en­tific achieve­ments. The i ncome should not be i ncluded as part of monthly wages based on per­for­mance.

• When re­searchers from high- tech com­pa­nies and small tech firms get shares as re­ward as part of in­come made from their sci­en­tific achieve­ments, they could choose to pay their per­sonal in­come tax by in­stall­ments within five years. The pref­er­en­tial pol­icy of de­ferred pay­ment in tax is ex­pected to be up­graded in the fu­ture.

More chan­nels for for­eign tal­ents to de­velop ca­reer

• Pro­ce­dures of get­ting res­i­dence cer­tifi­cate, tal­ent visa and for­eign ex­pert cer­tifi­cate for high- level over­seas tal­ents would be sim­pli­fied.

• Long- term high- level over­seas tal­ents based in Shang­hai could be pri­or­ity for For­eign Ex­perts Cer­tifi­cate of two to five- year term.

• Launch a pi­lot scheme for over­seas stu­dents to ob­tain em­ploy­ment in Shang­hai af­ter grad­u­a­tion.

• I mprove the sys­tem of is­su­ing For­eign Tal­ent Res­i­dence Per mits of Shang­hai, lower the ap­pli­ca­tion bar­rier for in­no­va­tive ta lents, and ex­tend the va­lid­ity up to 10 years.

Im­proved pol­icy to at­tract do­mes­tic tal­ents

• Founders or those in the core man­age­ment team of in­no­va­tive star­tups can au­to­mat­i­cally ac­cu­mu­late 120 points, the min­i­mum thresh­old re­quired to ap­ply for Shang­hai’s res­i­dency per­mit un­der the cur­rent res­i­dence eval­u­a­tion sys­tem.

• Those who run a start up com­pany or an in­vest­ment man­age­ment com­pany, tech­ni­cal ex­perts or em­ploy­ees in the tech­nol­ogy in no­vat ion ser­vice sec­tor will be able to up­grade their res­i­dence per­mits to per­ma­nent res­i­dence per­mits in two to five years com­pared with seven years un­der nor­mal cir­cum­stances.

• Shang­hai per­ma­nent res­i­dence per­mits will be granted to en­trepreneurs in star­tups who have se­cured a cer­tain amount of vent ure cap­i­tal i nvest­ment, mem­bers of the man­age­ment team whose star­tups have achieved out­stand­ing mar­ket per­for­mance, science and tech­nol­ogy ex­perts at com­pa­nies with a cer­tain amount of mar­ket cap­i­tal­iza­tion, as well as em­ploy­ees with the core man­age­ment team of in­no­va­tive in­ter­me­di­ary ser­vice com­pa­nies with ex­cel­lent per­for­mance.

A more flex­i­ble two- way trans­fer mech­a­nism be­tween col­leges and cor­po­ra­tions for sci­en­tific re­search per­son­nel

• Sci­en­tific re­search per­son­nel work­ing for col­leges or sci­en­tific re­search in­sti­tu­tions can un­der­take part- time jobs at tech­nol­ogy star­tups.

• Those who leave their old po­si­tions to start their own busi­ness shall keep their tech­ni­cal spe­cialty po­si­tions if they re­turn to their orig­i­nal work­ing place within three to five years of leav­ing.

• Reg­u­la­tions over col­lege stu­dents’ star­tups will be drawn up, and stu­dents will be en­cour­aged to sus­pend their school­ing to start their own busi­ness. Those who run their star­tups can also ac­cu­mu­late their credit for their prac­ti­cal ed­u­ca­tion cour­ses.

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