Successful returnees to offer ideas about starting businesses in Shanghai

A group of 11 entrepreneur tutors have been organized in Shanghai to help overseas Chinese returnees set up their own businesses in the city, Shanghai's Human Resources and Social Security Bureau said.

The group, the first of its kind, was organized as Shanghai welcomes more and more returnees, many of whom are interested in starting businesses.

The tutors are also returnees who have successfully started up enterprises. They will provide consultation services to help others navigate related policies and share their own experiences.

Currently, more than 150,000 Chinese graduates of foreign universities are working or starting up businesses in Shanghai, according to the local human resources and social security bureau. They have started more than 5,000 enterprises in the city, with over US$780 million in registered capital, bureau data showed.

In the first half of this year, 6,516 returnees settled down in Shanghai, up 69.9 percent from the same time last year.

“The returnees are more familiar with international markets and laws, rather than the domestic situation. Therefore, many of them face challenges in starting up businesses here, even though they have good ideas and programs,” Cheng Zhengdong, director of the Shanghai Talent Service Center, said.

“We hope the program will help returnees adapt to the local market more quickly.”