Shanghai to Attract Foreign R&D Centers
Shanghai Municipal Government will offer financial incentives for foreign-invested research and development centers as the city aims to turn itself into technology and innovation hub.
Foreign investors are encouraged to set up R&D centers as the government will offer 5 million yuan for foreign-invested R&D centers employing more than 100 employees. The R&D centers will also receive subsidies to cover as much as 30 percent of the rent for three years and preferential policies for foreign employers of these centers to have easier access to social services including medical, health services and less processing time for visa and work permits (qualified expats will be given multiple entry visas valid for 5 to 10 years)
According to official data, there were 416 foreign-invested R&D centers in Shanghai by the end of August.