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China's Wall Street woos leading overseas professionals

China's Wall Street woos leading overseas professionals

Write: Spica [2011-05-20]

SHANGHAI - Shanghai's Pudong district, dubbed as China's Wall Street, plans to woo more outstanding professionals from overseas to help sharpen the zone's innovative edge, said a human resources official Tuesday.

Pudong plans to employ more than 900 overseas professionals within the next five to 10 years, said Zhuang Pinhua, director with Pudong's Human Resources and Social Security Bureau.

Those to be employed include more than 100 professionals who are covered by the "Thousand Talents" funding program unveiled by the central government in late 2008 to attract leading overseas professionals to work in China, said Zhuang.

Also, more than 200 professionals are part of the auxiliary programs to the "Thousand Talents" by the Shanghai municipal government and by the Pudong district.

Another 600 professionals would mainly come from banking, shipping, emerging industries with strategic importance and high-tech industries, Zhuang said.

In the meantime, Pudong district would further improve its investment and financing environment for overseas professionals who would come and set up businesses, said Zhuang.

The Pudong district has currently about 780,000 professionals in various areas, including 35 who are funded by the "Thousand Talents" program.

Pudong has been increasing funding to professionals in their research in recent years, Zhuang said, adding that the district had also built 500,000 square meters of apartments for about 10,000 professionals in recent years.