That programme offers one-off subsidies, ranging from 800,000 yuan (US$113,488) to 1.5 million yuan, in addition to welfare packages covering family members, rental allowances and medical care. More than 96 per cent of the talents recruited under the Peacock Plan holds a doctorate, and 94 per cent are Chinese returnees.
Shenzhen has also pledged to extend tax breaks to top overseas and local talent, which could be as low as 15 per cent of a person’s annual income compared with as high as 45 per cent previously, under China’s progressive taxation system.
To date, the city has been helping develop at least 10 laboratories in collaboration with Nobel laureates involved in natural sciences. Nine of these have been completed as of June this year.
Shenzhen’s hi-tech companies are also sparing no efforts in wooing talent with high pay. Last month, Huawei announced plans to lure gifted new recruits with “top-notch” salaries.
But they're actively preventing money from getting _out_ of China, in particular said reserves. If you're making money in China, it's going to stay in China until you jump through a lot of hoops.
Out of 500k green cards every year, only 15k are for eb1,2,3 employment based immigration, with country of birth based limitations on top!
Gulf has way more harsher visa conditions, with no citizenship path and yet Indians flock to the Gulf.
It is crazy to think that people won't sell their services for money, because of loyalty or whatever. For the common man, their own career is what they care about. And for a good reason, especially in a country where every wants to hoard money at any cost- No one's going to miss out on an opportunity of this kind.
China is very flexible.
There may be difficulties in getting citizenship (which is another issue, really), but for work visas to foreign talents, which are sponsored by local companies, this is simply a matter of applying in order to get one.
A lot of misconceptions and FUD here. And I write that as someone who spent 3 years living in China and working for a JV.
If you want to emigrate there permanently this may be different but realistically this is not the topic of this discussion, which is more about highly educated people finding opportunities in China.
"Successful applicants are required to renounce any foreign nationalities they have.[46] Naturalization is exceptionally rare in mainland China; there were only 1,448 naturalized persons reported in the 2010 census[47] out of the country's total population of 1.34 billion.[48] "