Pro-innovation strategy paying rich dividends

Shanghai's 20-point strategy to attract leading talent into the scientific research and innovation sector, launched six months ago, is already paying dividends, according to municipal authorities.

Ying Yong, deputy secretary of the CPC Shanghai Municipal Committee, said the incentives being offered have significantly increased the number and variety of professionals coming to work and live in the city.

The policies include easing restrictions on permanent residency, reducing tax rates for startups, offering space in specially built high-tech business parks, and a pilot program that provides support to researchers to commercialize their findings.