Chinese capital dangles carrots to lure foreign talent to its Silicon Valley

Chinese capital dangles carrots to lure foreign talent to its Silicon Valley

New foreign hires at Zhongguancun Science Park will enjoy generous visa terms and more will also get the coveted permanent residence certificate, which confers greater freedom of cross-border travel as well as local economic benefits.

Foreigners with permanent residence will also be allowed to head national-level innovation projects, and serve as the legal representative of new scientific research institutions in China, the Beijing municipal government said in a statement at a media briefing on Tuesday.

China has laid out a roadmap to become a world leader in AI by 2030, aiming to surpass European and U.S. dominance in cutting-edge technologies and build a domestic industry worth almost $150 billion.

It has established dozens of new high-tech parks and incubators aimed at promoting technologies such as AI, robotics and big data.

But the talent pool at Zhongguancun Science Park, or Z-Park, still falls short of that in San Francisco, said Liu Minhua, head of the talent management division of the Beijing Communist Party.

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