Mao Zhirong, a researcher with the Shenzhen Stock Exchange who has returned to China with a US doctoral degree, received a residency certificate Monday from the Shenzhen government offering him preferential treatment in the south China city.
The certificate is a result of a recent decision by the government to attract more overseas-educated professionals to Shenzhen, a neighbor to Hong Kong and the showcase of China's opening-up policy. Nine other returned professionals also received such certificates on the same day.
With the certificates, they can lease government-provided houses, and their children can attend kindergartens and schools without paying extra fees.
The city government also provides subsidies to returned professionals to start businesses. According to Shenzhen officials, the city allocates up to 30 million yuan (about US$3.6 million) every year in this field.
Mao, an economics graduate from the University of California who once worked in an American financial firm, said Shenzhen provided enough space for returned professionals to seek personal development.
So far, over 4,200 overseas-educated people have settled in Shenzhen and have started some 350 businesses, with a total investment of 1.5 billion yuan (about US$180 million).
The ten who received certificates Monday all hold doctoral degrees gained in the United States, Japan, Canada and Australia.
(Xinhua News Agency February 11, 2003)
