(Yicai Global) June 29 -- To attract more foreign talent, Shanghai has relaxed regulations on employment of foreigners, allowing foreign students to stay and work in Shanghai right after obtaining a bachelor's degree. Shanghai will also encourage foreign graduates to startup businesses in the city.
Previously, foreign graduates were required to have two years of overseas working experience or have a master's degree or above to get employment qualification in Shanghai.
Under the newly-introduced regulations by Shanghai, four categories of foreign graduates will be allowed to seek employment and work in Shanghai. The first group will involve those who intend to work in Shanghai Free Trade Zone and Zhangjiang Hi-tech Park with a bachelor's degree or above granted by universities or colleges in Shanghai. The second category refers to those who intend to work in Shanghai with a master's degree or above granted by Chinese universities or colleges. Those who intend to work in regional headquarters of multinational companies, investment companies and foreign research and development centers in Shanghai Free Trade Zone and Zhangjiang Hi-tech Park with a bachelor's degree or above granted by foreign high-level universities or colleges will make up the third group. And finally, those who intend to work in Shanghai with a master's degree or above granted by Chinese or overseas high-level universities or colleges will also be allowed to work in the city.
To encourage foreigners to start-up businesses in the city, Shanghai has also introduced regulations, saying that foreign graduates with a bachelor's degree or above granted by Chinese universities or colleges can apply for a residence permit, marked "starting up businesses," with a validity of two years if they start-up business in Shanghai.
The introduction of the new regulations further expanded the scope of direct employment of foreign graduates in Shanghai, complying with the international trend of flow of international talent across boundaries. Reportedly, dozens of eligible foreign students graduated from non-Shanghai universities or colleges are ready to work in Shanghai and apply for work permit for foreigners in China.