Translation. Region: Russian Federal
Source: People's Republic of China in Russian – People's Republic of China in Russian –
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Source: People's Republic of China – State Council News
HANGZHOU, July 8 (Xinhua) — As of the end of June this year, 3,716 foreign entrepreneurs in Yiwu City, east China's Zhejiang Province, had been granted the status of skilled personnel under a new assessment system launched by the local government. Among them, 37 were classified as Category A (foreign highly skilled personnel) and 3,679 as Category B (foreign professional specialists), according to the Yiwu City Science and Technology Administration.
Yiwu has pioneered the creation of an innovative “foreign talent contribution evaluation system,” with key criteria including annual exports, job creation for local residents, and sustainable contribution to the regional economy.
To qualify for Category A, foreign investors/entrepreneurs must meet conditions such as the company's annual sales volume exceeding RMB 50 million (about US$6.99 million) with an individual annual salary of RMB 600,000 or more; or the company employs more than 10 local people and has 10 years of continuous individual work experience in Zhejiang Province with an annual income of RMB 600,000 or more.
Category B is assigned if the company has such indicators as an annual volume of foreign exchange transactions of USD 500,000 or an annual foreign trade turnover of over 10 million yuan.
According to the established rules, foreign personnel of category A receive 5-year work permits and priority processing of documents, and foreigners of category B receive work permits for a period of 2 to 4 years.
Yiwu, known as the “supermarket of the world,” maintains trade links with more than 230 countries and regions around the world. More than 28,000 foreign traders visit here every day, accounting for about a fifth of the total number in Zhejiang Province. To further attract investment, the city launched this pilot program for foreign business personnel in September 2024. -0-
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