by Frank Chen for SCMP

“As fears grow that the flow of foreign cash and talent into the world’s second-largest economy may slow to a trickle, two major Chinese cities have launched charm offensives to retain foreign R&D centres.

The capital city of Beijing now offers subsidies of up to 50 million yuan (US$6.9 million), residence permits, faster visa processing for top talent, and other incentives, authorities said in a notice issued during the China International Fair for Trade in Services, which kicked off at the weekend.

Meanwhile, Shanghai is looking to help more foreign R&D centres restructure into local entities. The business hub is also updating measures and lining up new incentives as officials redouble efforts to keep the large number of foreign businesses grounded in the city…”

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