In 2015, Chengdu launched the Tianfu Entrepreneurship Action Plan to be implemented from 2015 to 2025 and a series of support policies.

These moves aim to attract potential entrepreneurs, including university graduates and high-tech talent by providing more favorable policies of incentives. The Plan also highlighted the ambition of Chengdu Municipal Government of turning Chengdu into a world renowned center for startup and entrepreneurship and the first choice for enterprising professionals to realize their dreams.

This is not empty talk. Chengdu has made continuous efforts in many aspects in recent years, from formulating scientific and reasonable top-level talent cultivation plans, issue policies to provide great support to local entrepreneurship and attract foreign talent to set up startups in Chengdu to hosting large entrepreneurship sharing meetings on a regular basis. Establishing innovation parks, reducing costs of starting businesses to a reasonable level and creating pleasant living environment.

In 2015, Chengdu topped the list of "The Most Talent-attracting New First-tier Cities", a ranking made by a noted Chinese business magazine. Another rank list of "Innovation and Entrepreneurial Environment in Chinese Cities" released by Tencent suggests that Chengdu ranks Number One in terms of numbers of startups and average revenues of entrepreneurs.

Chengdu Government officially issued "Ten New Talent Policies" on Feb 14, 2016, which consisted of ten major measures covering four key areas of talent introduction, training, support and service;

1. Increase the fund for talent introduction

Highlights: establish a special fund for talent development with a total amount not less than CNY 2 billion.

2. Guide and encourage talent introduction through diversified means

Highlights: put up the "Bole Award" for talent introduction and establish China (Chengdu) Offshore Innovation and Entrepreneurship Base for Overseas Talent.

3. Implement independent local talent cultivation programs

4. Coordinate and support key talent (team) programs

Highlights: international top talents who have won world-known awards like a Nobel Prize and settle in Chengdu for innovation and entrepreneurship will be granted a fund of maximum 50 million yuan (7.28 million US dollars). Top talent teams engaged in major national (international) strategic projects will be granted a fund of maximum 100 million yuan (14.57 million US dollars).

5. Enhance financial support to innovation and entrepreneurship

6. Support enterprises in promotion and application of innovative products

7. Optimize talent development platform

Highlights: encourage talents and enterprises to set up technological innovation and R&D platforms and grant them a fund of maximum 2 million yuan (291,596.19 US dollars).

8. Provide quality life and work service

9. Open special channels for overseas talents to apply for visitor visa or resident visa

10. Establish an honor system for outstanding talents

Highlights: high-level talents who settle in Chengdu for innovation and entrepreneurship for five years and more and make major contributions to the economic and social development of Chengdu will be granted 1 million yuan (147,798.09 US dollars) as a reward once their contributions are reviewed and recognized.

On Oct 18, 2016, Chengdu New Tianfu District Administration has formulated Policies on Implementing Jingrong High-tech Talents Plan to Accelerate the Recruitment of High-quality Talents, setting up a fund of five billion yuan (728.99 million US dollars) to recruit talents globally. According to the plan, 10,000 high-quality innovative start-upers will be recruited within five years; a maximum of five million yuan (728,990.49 US dollars) will be used to support their startup projects, and a maximum of 100 million yuan (14.57 million US dollars)will be given to support the transformation of scientific results produced by top innovative and startup teams.

Instructions for Overseas Talents Setting in Chengdu

Talent recognition: Chengdu is the first city to increase organizations in charge of overseas talent recognition among cities at the same level. 25 member organizations of Chengdu Municipal Foreigner Service Management Work Leading Group are all eligible for recognition of overseas talent.

Instant service: Exit-entry Administration Division of Chengdu Public Security Bureau provides port visa application and transfer services to overseas talents, rendering Chengdu the first city to provide such services in central and western China. Overseas talents who apply for port visa after arrival in Chengdu may instantly obtain their visas.

Convenient services: Chengdu will issue five-year resident visa or valid multiple exit-entry visa to overseas talents, their spouses and underage children.

Service stations: Exit-entry service stations will be set up in talent aggregation areas in Chengdu. They provide overseas talents in the neighborhood with accommodation registration and declaration service, visa expiration reminding service, exit-entry policies consulting and other services to fully facilitate their stay and living in Chengdu.

Email: tanyuhan@nbd.com.cn