Shanghai received over 270 applications from foreigners for permanent residence in China since last July, six times more than the same period last year. In this time, 1,700 applications for five-year residence permits have been granted, a nine-fold surge.
In July of 2015, the Ministry of Public Security released new regulations on exit-entry administration in order to facilitate the development of Shanghai into an international hub for innovation.
Foreigners working in the city for four consecutive years with an annual salary of at least 600,000 yuan ($89,975) and annual taxation of 120,000 yuan can apply for permanent residence in China with a recommendation.
New regulations include more convenience for foreign students in China who wish to set up a business in Shanghai. Foreigners can expand their transit visa exemption in Shanghai from 72 to 144 hours depending on their nationality.
