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New Measures for Foreign Talents Released
Post Time: 07/09/2017

Yiwu released the Measures for Foreign Talents. The Measures aim to encourage companies to introduce urgently needed foreign talents in order to promote the development of Yiwu.

According to the Measures, companies that meet the following requirements will be subsidized no more than 300,000 RMB per year per person (based on the previous standard of subsidizing 50% of a foreign talent’s annual salary): have employed foreign talents for no less than one year; the annual salary of each talent employed is no less than 200,000 RMB. 

The Measures are different from talent-introduction projects subsidized by the Yiwu municipal government in the past. The Yiwu Human Resources and Social Security Bureau will change the subsidy application procedure by paying a visit to the companies to gather more information (nationality, position, and salaries) about their foreign talents. This will bring great convenience to companies that want to submit applications.

In addition, needed materials will be reduced. Only a foreigner’s work permit will be needed; passport, employment contract, education background, and work experience documentation that were previously required will not be needed anymore. In addition, the municipal government itself will check information like the eligibility certificate of shareholders and stock ownership certificates of a company, which will provide much convenience for companies.

These Measures will “break the rules” for talents. Education background, work experience, or professional rank, title, and social status will not be the standards for selecting talents. The only criteria for deciding a talent will be the salary they get and the value they create. The Measures released by the government are expected to greatly encourage Yiwu’s companies to introduce foreign talents. (By Lin Xiaoyan, translated by Pu Yanli, edited by Kendra Fiddler)

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