Shanghai offers incentives for returning international students and professionals

Shanghai's Changning District is making efforts to optimize the business environment in line with the city's overall plan, with extra emphasis laid on gathering talent.

Zhang Yiyi at the district's commission of commerce, pointed out that when communicating with enterprises about their demand and expectations for their development here, much of what's being discussed is the acquisition of talent and talent retainment.

In order to further attract more overseas talent to return to Shanghai for innovation and entrepreneurship, Changning District last year formulated and introduced a special support policy for the rental of talent apartments during the transitional period for international students returning to China.

Those who have obtained a master's degree or above from the world's top 100 universities or the top 20 universities in their major, can apply for a rental subsidy from the talent apartments. Besides, their stay in China

 should be less than one year while they do not own a home in Shanghai for themselves and their spouses. They are able to apply whether they have a job or not, and regardless of whether their workplace is in Changning.

The special support policy will provide eligible applicants with subsidies of a maximum of 4,000 yuan (US$586) per month, for at longest 12 months.

As of now, over 1,140 people have submitted applications, more than 870 have been approved, and 256 people have been arranged to move in.

At present, three apartments for such overseas returnees have been recognized, with a total of more than 400 sets of housing available, and another batch of housing will be added this year to meet the demand of returning overseas students.

Many enterprises, especially key enterprises in the district, have introduced and gathered outstanding overseas talent through the policy. So far, leading companies including Pinduoduo, Trip.com, Bosch and Unilever have brought in more than 70 returned talents with the policy.

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