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Yiwu, which became part of the Zhejiang Pilot Free Trade Zone in September, released 10 measures to attract talent from home and abroad, local media reported on Nov 27.
1. To develop a transparent talent evaluation system based on tax payments and establish special task forces to spot talent engaged in cross-border finance, cross-border logistics, cross-border e-commerce, and industrial design.
2. To lower the threshold for foreign talent, especially those engaged in commerce and trade and grant 5-year work permits for qualified applicants.
3. To make exit & entry procedures more convenient. Foreign businesspeople with good credit will be granted business visas (M Visa), 5-year residence permits, or even access to permanent residence.
4. To encourage foreign college graduates to seek employment in Yiwu. Graduates of foreign universities interning at State-owned companies registered in the free trade zone will enjoy simplified visa application procedures. International students at Chinese universities will be eligible for residence permits and enjoy the same preferential policies as Chinese students.
5. To bring in foreign talent engaged in finance and design. Their overseas work experience will be taken into consideration for China's professional qualification exams.
6. To set up honorary titles for talent. Those who help Yiwu's free trade zone develop through special expertise and resources will benefit from a customized evaluation system and titles for their contributions.
7. To give tax refunds to high-end talent who work in the free trade zone.
8. To improve finance services for expats.
9. To provide streamlined administration services for overseas business trips.
10. To bring in famous human resource agencies and offer them tax refunds and rewards of up to 500,000 yuan ($76,000) based on their success in recruiting talent.
The English translation is for reference only and if there is any discrepancy, the Chinese version shall prevail.