Shanghai Issues 'Green Cards' to 240 Overseas Residents

China's leading industrial city Shanghai has issued "green cards" to more than 240 overseas residents since it started the initiative to attract overseas investors and talent half a month ago.

About 90 percent of the "green card" holders are returned Chinese students, many with US green cards. The rest are foreign nationals and Chinese from Taiwan and Hong Kong, according to Chen Jintian, an official with the city's personnel administration.

The "green card," or permanent residence permit, allows the holder to engage in scientific research activities, start a business and send his/her children to school under the same conditions as local children, while enjoying preferential taxation treatment.

Shanghai Vice Mayor Zhou Yupeng said the new residence permit system marked a breakthrough in the city's bid to attract domestic and overseas talent.

Zhao Jian, a Chinese Canadian now working as the chief executive officer of a computer technology firm in Shanghai, is among the first foreign nationals to get a permit.

"This residence permit system is a very advanced idea. It is good for Shanghai to take the first step. I have many Chinese student friends in Canada and the United States. They are very interested in this policy," he said.

(China Daily July 7, 2002)