(Yicai Global) June 8 -- Shanghai aims to lure Chinese graduates from top universities abroad to settle down in the eastern city by relaxing its permanent residency requirements.

Chinese students who graduated from the world’s top 50 universities can apply to become permanent residents in Shanghai if they work full-time in the city, according to a notice issued recently by the municipal human resources and social security bureau.

Meanwhile, graduates from universities with global rankings from No. 51 to No. 100 can apply to do the same after six months of social security contributions.

Big Chinese cities, such as Beijing and Shanghai, are known for their strict household registration management as access to certain public services such as secondary education is linked to the registration.

The bureau will release a list of universities to clarify the new guideline. The list will be compiled based on publications of Times Higher Education, US News & World Report, QS World University Rankings, as well as the Academic Ranking of World Universities.

Moreover, the bureau will hold the Make Shanghai Your Home -- Overseas Students Innovation and Entrepreneurship Competition this year. The winners may be selected to join the Pujiang Talent Program, initiated to attract science and technology talents to move to Shanghai, and receive from CNY300,000 to CNY500,000 (up to USD74,773) in financial support.

Shanghai will guide headhunting agencies to strengthen the recruitment of overseas talents and enhance its support to resume work and production after the latest Covid-19 outbreaks, the notice added.

Moreover, public institutions in Shanghai will mainly recruit college graduates for junior roles in management and technical departments in 2022 and 2023 to promote employment.

Besides these measures, the city has rolled out several policies to help overseas graduates start their own businesses in industrial parks by reducing or deferring rent payments.

Editor: Emmi Laine