Beijing offers 1 million yuan in cash incentives, long-term visas and ‘green card’ to attract global talent
The city’s government is also offering visas of up to 10 years and “green cards” that allows holders to buy property and access local school
The Beijing municipal government is introducing new measures, including easing of visa policies and cash incentives of up to 1 million yuan (US$158,000) to attract top class global talent to work in the capital, as China competes with the US and other countries in artificial intelligence and life sciences.
The local government will fast track qualified individuals’ multiple entry visas valid for up to 10 years, offer permanent residency, also known as “green card”, which allows holders to buy property, cars and access to local schools, according to a statement on the local government website on Thursday.
Partners at venture capital and private equity firms and entrepreneurs are among those that Beijing wants to attract, with senior management and professionals employed by multinationals and top firms from Hong Kong, Macau and Taiwan also in the mix.
The cash incentives are subject to recruits fulfilling their contract obligations.
China’s State Council laid out goals last July to build a US$150 billion domestic AI industry in the next few years, and to make the country an “innovation centre for AI” by 2030.