The 2023 Shanghai Overseas Talent Fair takes place in Qingpu district, Shanghai, on Dec 6. [Photo/sh-italent.com]

The 2023 Shanghai Overseas Talents Fair and fourth Global Start-up Contest recently took place in Qingpu district, Shanghai, showcasing the city's commitment to attracting global talent and fostering entrepreneurship.

Local officials gave speeches at the event, emphasizing the importance of talent attraction and retention in Shanghai's development.

Yang Jiaying, director of the Shanghai Municipal Human Resources and Social Security Bureau, highlighted the efforts made by the bureau in aligning with Shanghai's development needs. The department has continually improved policies and measures, optimized service systems, and achieved remarkable results in attracting and retaining Chinese overseas returnees.

Over the past five years, Shanghai has welcomed more than 135,000 Chinese overseas returnees, with over 300,000 currently employed or starting businesses in the city. Additionally, more than 6,000 companies founded by overseas returnees have emerged, with many individuals achieving top positions in academia, scientific research, and entrepreneurship.

To adapt to the changing times and provide enhanced support and services, the "Service Zone for Overseas Returnees" was launched on Suishenban, a one-stop local government affairs service app, and the launch ceremony was held during the event. This platform allows foreign talent in the demonstration zone for integrated ecological and green development in the Yangtze River Delta region to apply for Shanghai's overseas talent residence permit and enjoy the same benefits as local residents.

This initiative aims to create a conducive environment for outstanding talent to focus on their work in Shanghai, enticing more overseas students to return to China and contribute to the city's development. The ultimate goal is to transform Shanghai into a global talent hub where individuals can realize their life dreams.

Yang Xiaojing, governor of Qingpu district, highlighted the significance of the Global Start-up Contest, which focused on national strategic areas and connected with global innovation and technology. Qingpu, designated as a demonstration zone for the integrated development of the Yangtze River Delta, has been actively fostering leading industries such as big data, big health, and big commerce. It aims to become a hub for a modern international socialist metropolis.

Recognizing the pivotal role of talent, Qingpu has expanded and upgraded its talent policies, attracting over 200,000 talents from various backgrounds. This year, the number of talents directly choosing to reside and the number of overseas returnees choosing to reside in Qingpu have increased by 81 percent and 25 percent, respectively. The district has become a dream destination for global talent to innovate and start businesses.

During the event, winners of the competition received awards for their outstanding achievements. The Hongkou Overseas Students Pioneer Park and Chongming Overseas Student Pioneer Park were awarded plaques, while the Shanghai Overseas Talent Residence Permit (B Permit) was presented to employers who recruited foreign talent. Several exceptional entrepreneurial projects signed agreements with the Shanghai Overseas Students Pioneer Park and investment institutions.

This year's "Make Shanghai Your Home" Global Start-up Contest aimed to attract more overseas students to Shanghai. The competition included regional contests in Silicon Valley, the United Kingdom, Germany, Singapore, Israel, Canada, Hong Kong, Macau, Taiwan, and domestic regions. The event focused on the frontier of global innovation and technology and attracted nearly 300 high-quality entrepreneurial projects.

These projects spanned various fields, including information technology, biomedicine, and new energy and materials. The projects showcased high development levels, strong competitiveness, and significant growth potential.

Over 10 winning projects from the finals will qualify for the "Pujiang Program" in the following year and participate in the Shanghai Global Talent Innovation and Entrepreneurship Competition. Investment institutions expressed strong interest in the projects, engaging in discussions with entrepreneurs on market prospects, financial operations, and financing opportunities.

Qingpu district recommended three projects that reached the finals, with Shanghai Bear Sunny Technologies receiving the Outstanding Award. The company focuses on CNC intelligent variable color materials and aims to become a global leader in this field.

Wang Yi, director of the Human Resources Research Center of the Shanghai Academy of Social Sciences, provided insight into the "Shanghai Returnees 300 Index (2023)". This year, the index scored 257.1 points, reflecting Shanghai's ability to provide a favorable working and living environment for returnees.

The report indicated that with China's increasing international competitiveness, more international students are choosing to return to China to work, contributing to the internationalization of talent demand.

Looking ahead, Qingpu district plans to align its efforts with the strategic positioning of Shanghai, leveraging the city's strong ability to attract talent and foster a good environment for international talent.

The district aims to create a world-class talent platform, implement open talent policies, and cultivate a high-quality talent ecosystem. The ultimate goal is to establish Shanghai as a global source of scientific and technological innovation and a hub for world-class talent, providing an ideal environment for overseas returnees to innovate, start businesses, and achieve their dreams in Shanghai.