New plan released to support foreign R&D centers in Shanghai
Editor's note:
Shanghai, a well-established destination for investment from home and abroad, is confident it will attract more quality investment thanks to better policies and services.
Shanghai released a foreign-funded R&D center supporting plan on Wednesday, inviting foreign-funded R&D centers to cluster in Shanghai, helping the city become an international science and technology innovation center, according to the government website.
"The Shanghai Foreign-funded R&D Center Enhancement Plan" will take effect from March 15.
Foreign-funded R&D centers are key to realizing the goal of making Shanghai an international science and technology innovation center, a crucial link to achieve a high level of opening up and to build a global innovation network.
The plan supports foreign-funded R&D centers to increase R&D investment and provide financial subsidies to eligible research projects.
The plan also simplifies the customs clearance and supervision process for research materials of foreign-funded R&D centers and facilitate quarantine approval.
According to the plan, in order to attract more talent, Shanghai would relax the restrictions on qualifications, ages and other conditions for the evaluation of talent, optimize the process of work permits in China, relax restrictions on the age, education and work experience of high-end foreign talents, release a multilingual policy on foreign talents, and provide support in the areas of settlement, housing, children's education, employment of spouses, and medical protection.
By the end of 2023, Shanghai had accredited a total of 561 foreign-funded R&D centers.
For more information (Chinese only): please visit https://www.shanghai.gov.cn/nw12344/20240312/8496fe67c56f4dc4b60ee5dc7810d698.html
