The Pudong New Area issued three new policies at the 2020 Shanghai Global Talents Innovation and Entrepreneurship Summit on Dec 24. 

The new policies – involving work and resident permits, as well as foreign exchange breaks on their salaries – aim to attract more top professionals from overseas and further boost the district's development and opening-up.

Under the new measures, the district will offer shortcuts to foreign people – that are introduced by local hi-tech companies, key universities and sci-tech institutes – to apply for permanent resident ID cards.

Work permits will also be offered to foreign entrepreneurs who are still preparing to start up new businesses in Pudong. Industrial parks or incubators, where the new businesses are located, can submit the applications on behalf of the entrepreneurs. 

Officials said the work permit measure has passed trial implementation in Pudong and will be promoted across Shanghai.

In addition, a trial implementation of the Fast Pass on Foreign Talents Remuneration Foreign Exchange was launched at the summit, which is expected to benefit nearly 80,000 foreign professionals in Shanghai.

Foreign talent or their employers can download the information form and submit it to nearby talent services windows in the district.

When approved, holders of the Fast Pass can enjoy a more convenient access to the currency exchange services for their salaries at local banks. 

Local officials said the online services will be introduced soon.