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14 May 2019, Gergana Bencheva, EMIS Editor

Shanghai seeks to boost foreign investment by 2030

Shanghai is looking to attract more foreign entrepreneurs and investment by 2030 as the city has a goal to become global hub for science and technology, China Daily reported. For example, the number of foreign graduates from Chinese universities choosing to stay in the city to pursue entrepreneurial plans has risen thanks to special policies in the field introduced in the middle of 2015.

For example, international students who have graduated from universities on the Chinese mainland can apply for a two-year residence permit. Furthermore, Shanghai has also began to issue entrepreneur visas to graduates from well-known overseas universities, allowing them to stay in the country for a year to set up a business.

According to official statistics, over 210,000 expats from 167 countries and regions are working in Shanghai. They are attracted by the large size of the Chinese market while the local businesses are eager to benefit from expat entrepreneurs' experience, cultures, networks and knowledge, China Daily added.

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