Chinese officials have presented new policies aimed at attracting top-notch foreign professionals in order to improve the economic and social development of the nation. The recently announced National Medium and Long-Term Talent Development Plan is more open for high-caliber foreign talent willing to work in China than previous policies. Main areas of focus are taxation, insurance, housing, children and spouse settlement, career development, research projects, and government awards. Additionally, the new plan will improve the system for granting permanent residence rights and migration programs.
“The new policy measures will help curb many of the doubts foreign citizens have when contemplating a move to China, and will ultimately result in a shift from China being labor-rich to talent-intensive,” said Edward E. Lehman, Managing Director of Lehman, Lee & Xu. “Foreign talent is crucial in improving the long term sustainability of the Chinese economy,” Lehman added.