Homes for top talent key to city's competitiveness

Local lawmakers put forward proposals during the ongoing legislative session for the government to attract and retain more top professionals in a bid to help the city increase its competitiveness.

Xu Bin, a deputy from Hongkou District, suggested preferential real estate loans for young professionals in the science and technology sector.

Currently, those purchasing their first apartments are required to make a down payment of at least 35 percent, which makes it impossible for many young professionals to settle in the city even after a few years working here, according to Xu.

"Shanghai faces a big drain of professionals who eventually have to settle elsewhere," Xu said. "If we can't retain them, then we will become a training base for other cities and face a drain of intellectual property rights."

He suggested that their down payments be reduced to 20 percent for apartments under 110 square meters.

Zhong Jin from Putuo District suggested that "talent apartments," offering preferential rents, should open their doors wider.

"It's very hard for foreigners to rent those apartments, and it's impossible for companies to apply for the apartments for their employees," he said. "Also, most have only one bedroom, which is not suitable for those with a family."

Yao Jian from Changning District said that children of returning Chinese professionals can't get accepted by local schools. Many companies dispatch professionals to work in other markets for three to five years, before being promoted and returning to lead the company. If they take their children with them overseas, the children face problems resuming their education in Shanghai.

According to Yao, children who have never been enrolled in an education institution in Shanghai cannot get enrolled in schools that require a local education registration. And due to the fact that the children's parents are not foreign citizens, they cannot enroll in international schools either.

"As a result, some professionals would rather continue working in other countries than return, just for the sake of their children's education," he said.

Yao suggested that the government allow these children to enroll in foreign international schools, and allow qualified professionals to choose any local school for their children.