Overseas Chinese talents lured to start business in Yangpu

Sixty-nine winners of the Chunhui Cup, China's top innovation and entrepreneurship competition, showcased startup projects to incubators, investors and hi-tech parks in Yangpu.
Ti Gong

The winners of the Chunhui Cup, China's top innovation and entrepreneurship competition for overseas Chinese students, visit the Bay Valley hi-tech park in Yangpu District.

About 70 Chinese overseas students and graduates showcased their entrepreneurship projects to incubators and investors in Yangpu District over the weekend as part of the district's efforts to attract overseas talents.

The 69 winners of the Chunhui Cup, China's top innovation and entrepreneurship competition, showcased 26 innovative startup projects and hi-tech inventions to 15 incubators, seven investment institutes and seven national hi-tech parks of universities based in Yangpu.

Before the presentation, the students and graduates studying in famous universities in 14 nations, including the United Kingdom, France, the United States, Germany, Japan and Israel, were invited to visit the innovative parks, international community and talent apartments.

The activity aims to attract the top professionals, many of whom once served in senior posts in multinational enterprises and research institutes, to establish their businesses in the district, according to the district government.

"Yangpu has offered many preferential policies to facilitate the business and life of the overseas talents," said Shao Bo, director with the investment promotion and service center of Yangpu. The district government will spend 20 million yuan (US$3 million) each year to support overseas professionals to start their businesses in Yangpu, Shao said.

Ti Gong

The winners of the Chunhui Cup, China's top innovation and entrepreneurship competition for overseas Chinese students, visit a talent apartment in Yangpu District built to accommodate professionals.

Among the newly released policies, those professionals who studied or worked overseas and are deemed as top talent after evaluation from a panel can receive a million yuan in assistance fund for their startup projects along with 500,000 yuan housing subsidy, according to Shao.

"I'm eager to join the trend of mass entrepreneurship, " said Zheng Lei who studied in Australia and presented an reactor he developed for sewage treatment.

"I met many of my counterparts during the activity in Yangpu who share the same passion and similar experiences," said Li Kun from a Canadian university who develops a sewing equipment for heart surgery. "I feel Shanghai is the best place for entrepreneurship and innovation," Li said.

The winning projects are mainly fucsed on fields including automatic manufacturing, electronic information, new materials, bio-pharmaceutical, new energy and environmental protection.

Ti Gong

The winners of the Chunhui Cup, China's top innovation and entrepreneurship competition for overseas Chinese students, watch the blueprint of the Bay Valley hi-tech park in Yangpu District.

Yangpu has been building more overseas educational and medical institutes to serve an increasing number of overseas talents to live or work in Yangpu, according to the district government.

Construction has started on a campus for German and French schools, for instance, in Yangpu to meet the rising demand of expats for quality education for their children. Jiahui Health, a joint venture health group, has also opened the first international hospital in the district.

The effort is part of a citywide trend for downtown districts to attract foreign professionals, including returning Chinese to live and work in the city.

Xuhui District has built about 2,000 low-rent apartments along Huangpu River to accommodate professionals — with the lowest rents at 1,800 yuan a month.

In Hongkou, the district government has managed to shorten the process for highly skilled foreigners applying for work permits to just four days.


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