Talent the key for Pearl River Delta
The Pearl River Delta will be another engine of innovation-driven growth in China, with retaining talent the key, according to a report released ahead of the Shanghai Forum, which will take place from Saturday to Monday.
The delta needs better policies in areas such as streamlining the visa and residence permit process, and giving people more income tax incentives. They are particularly important in attracting professionals from Hong Kong and Macau, according to the Fudan Development Institute report.
The report is part of a set of publications issued ahead of the forum, which has the theme: “Asia Amidst Global Reshuffling: Challenges, Developments and New Paradigms.” It is hosted by Fudan University and the Korea Foundation for Advanced Studies.
As a counterpart of the Yangtze River Delta, the Pearl River Delta's applications of patents account for 15 percent in the Chinese mainland. Many came from investors from Hong Kong and Macau.
The Hong Kong-Zhuhai-Macau Bridge which opened last year is expected to boost the Pearl River Delta's growth as an innovation center.
Earlier this year, Guangdong Province proposed a more preferential permanent residence policy for talent, and it is to pilot a skilled migration system in nine cities in the Pearl River Delta.