China encourages foreign sci-tech entrepreneurship

China supports foreign talent with permanent residence certificates to set up sci-tech enterprises, according to guidelines recently issued by the country's Ministry of Science and Technology.

The guidelines, aimed to support innovation and development of small- and medium-sized enterprises (SMEs) in science and technology, said that foreign entrepreneurs will enjoy the same treatment as their Chinese counterparts.

A high-quality foreign worker shows his foreign permanent resident ID card in Xi’an, northeast China’s Shaanxi Province, on September 8, 2017. [File Photo: VCG]

SMEs in science and technology are important forces in fostering new engines of growth and promoting high-quality development. The ability to innovate is their competitiveness, the guidelines said.

Other favorable policies for SMEs include tax reduction, financial assistance and participation in major national sci-tech projects.