Shanghai encourages to set up Foreign-funded R&D Center

 2020-11-30  158



                                                                                        



The Regulations of Shanghai municipality on Encouraging the Establishment and Development of Foreign-funded R&D Centers will take effect on December 1, 2020 to further open up the city and encourage foreign investors to set up R&D centers in Shanghai, China.

 

The provisions shall apply to the establishment of foreign-funded R&D centers, global R&D centers and foreign-funded open innovation platforms in Shanghai.

 

Among them, the cumulative total R&D investment of foreign R&D centers shall not be less than 2 million US dollars, and that of global R&D centers shall not be less than 10 million US dollars. The proportion of R&D investment in the parent company's global R&D investment in the previous year shall not be less than 10%. The total investment of the open innovation platform of foreign capital shall be no less than 2 million US dollars, and there shall be no less than 1,000 square meters of R&D facilities, and no less than 10 R&D and innovation projects signed and settled.

 

Shanghai will provide the R&D center in Shanghai with customs clearance convenience, cross-border financial service convenience, talent introduction, entry and exit, and stop residence convenience, the training and housing subsidies, tax support, and can participate in the government’s projects. Besides, the local science and technology achievements transformation projects can get financial support according to related regulations, etc.