Shanghai Plans to Attract More Foreign Professionals
Shanghai has issued a new set of guidelines aiming to strengthen services, possibly offer subsidies and other inducements, and improve living environment.
According to a survey, professionals and industry experts concern about the high tax rates, a rising cost of living and a lack of a mature medical system in Shanghai, which may reduce the city’s attraction for professionals from the rest of China and abroad.
Under the guidelines, Shanghai plans to attract 2,000 overseas high-level professionals in the next 5 to 10 years. The focus is to boost the development of key industries such as the shipping, trade and finance.
Pudong district plans to offer Chinese green cards to 100 foreign professionals and to build and operate low rent apartments for professionals over the next 5 years. According to the guidelines, low rent apartment for those high-end professionals will be built in Puxi as well.
Foreigners who are introduced to the city as high-end talents do not enjoy any preference in personal income taxes, and they can only have the most basic social insurances at the moment, while foreign experts in US are better insured.
