Shanghai unveils incentives in bid to reverse brain drain

Shanghai, the city chosen to propel China into the next millennium, is introducing competitive salaries for overseas graduates to reverse a brain drain.

New measures allow employers to pay graduates salaries compatible with those offered by overseas firms.

There are also extra benefits on offer such as housing and special bonuses.

The incentives are mainly aimed at specialists in advanced technology or those with management expertise.

A delegation of top company executives from the city will visit overseas universities this year in a drive to bring back Chinese graduates and professors.

Thousands of Chinese students graduate every year but most choose to stay abroad because of better career prospects and rewards.