China’s Workforce to See Expat Influx?
The face of China’s workforce could be set to change with the recent introduction of relaxed, newly revised residency laws. The new legislation virtually paves the way for an influx of internationalthat’s ultimately inbound for China’s somewhat exclusive Middle Kingdom.
The revelationary news that China’s permanent residency rights are to be relaxed has stirred quite a commotion amongst the global expat community and understandably so, given the fact that since their 2004 introduction, just five thousand permanent residency permits have been issued.
Now, the highly praised development stands to see wider green card availability, as well as less stringent laws surrounding registration and investment. But for inbound expats, the good news doesn’t end there, especially for those with young families.
Career minded expats with children can also expect easier access to schoolplaces and healthcare, which willto consider China in their plans surrounding employment. Liu Guofu, an immigration law specialist from Beijing’s Institute of Technology commented:
“The government is targeting key groups like those in managerial positions from multi-national specialists in education and science-related fields as well as renowned figures in culture and sport …Ministerial departments have been gauging feedback from such specialists since late 2012 … The regulation should list specific fields and expertise that the country urgently needs … Talented professionals who want to work in China but don’t have a job should also be granted a multi-year visa. This would help attract more global talent … The policies should also allow visa holders the chance of permanent residency after working in the country for a certain period of time.”
China’s permanent expat population has always been exclusive and difficult to become a part of, thanks largely to the unpopular residency policies, which until now have seemingly excluded non-nationals from any of China’s long-term plans.
One downside of expat employment in China is the cost of social security that is usually met by both employee and employer. Approximately half of an expats annual income is designated to the Chinese Government, which is something of a bone of contention for many investors.
But permanent residency rights automatically allow expats to find employment within the Middle Kingdom as well as the whole of China. Expats planning to set up their own business can now do so without the usual restrictions, simplifying the whole procedure for any such expat investors.
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