Shanghai unveils measures to boost Pudong's overseas talent pool

Shanghai has released a set of incentives to lure overseas talent to work in its pioneering Pudong New Area.

Top overseas talent, who are rated as one of the best or bellwethers on their own ground, in Pudong's key industries like artificial intelligence, biological medicine and integrated circuits, as well as global fast-growing sectors like metaverse, green energy and intelligent computer terminal are the most in demand.

Taking their recognition, contribution and other abilities into account, they will enjoy a series of favorable policies in exit-entry, accommodation, work and more. Notably, those who lead a major project can receive financial support of up to 100 million yuan (US$14.8 million).

It is part of Pudong's "Pearl" talent plan which aims to lure about 2,000 talent from across the world by 2025 to support the development of its key industries.

Another highlight of the incentives is a Pudong-wide fast-track green card program, which means top foreign talent working in the new area can go through simplified procedures to apply for permanent residence permit in China.

Currently, more than 2,000 expats have gained permanent residence permit in Pudong, thanks to years of efforts to attract overseas talent, such as building international communities, forming partnerships with internationally-acclaimed universities and offering free housing and consultation.

Basically, Pudong aims to expand its talent pool to 2 million people by 2025, and become a leading talent development hub with global attractiveness, competitiveness and influence by 2050.