(Yicai Global) May 22 -- Shanghai will continue to go all out to attract top talent from China and overseas and launch a series of measures to support their development.

“Shanghai will recruit top talent, especially youngsters, from all over the world,” Luo Dajin, director of the city science and technology commission, said at the Shanghai Y50 Forum for Innovation and Entrepreneurship on May 20.

“The city will also build research and development institutions to meet their needs and provide special, stable, and predictable support,” Luo added.

The coastal megacity has nearly 6.8 million talented individuals, according to official data. The ranks of talent from overseas are also significantly increasing, as it granted work permits to 394,000 foreigners and helped 270,000 overseas graduates work or start a business in Shanghai, ranking first in China.

Shanghai released a policy last month that proposes to give greater autonomy to project management and another this month offering subsidies to larger projects over three years, Luo noted.

At the Shanghai Y50 Forum, the city also announced the first recipients of its Top 10 Young Science and Technology Entrepreneurs awards, which aim to recognize 10 entrepreneurs under the age of 45 in fields such as artificial intelligence, biomedicine, and integrated circuits.

Shanghai has notable advantages in terms of clinical resources and talent, Pan Jing, founder and chairman of Taimi Robotics Technology, told Yicai Global. Pan, one of the award winners, also looks forward to more industrial policy support in the future.

After years of exploration, Shanghai has built a system in line with the talent growth law, Luo pointed out.

Shanghai’s Morning Star Program, one of its main talent programs for under 35s, has cultivated more than 3,000 individuals, 20 of whom have became academicians at the Chinese Academy of Sciences and Chinese Academy of Engineering, Luo noted.

In the future, Shanghai will also introduce programs for talent in the scientific and technological innovation fields, Luo added.

Editors: Shi Yi, Futura Costaglione