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Overseas returnees flock to Qingpu

LMS| Updated: July 5, 2023

[Video/Shanghai Observer]

The Shanghai Qingpu (Yangtze River Delta) Pioneering Park may have been launched just months ago, but it has already become a vibrant hub for entrepreneurship that is attracting many Chinese returnees.

The park is currently home to nearly 50 startups founded by overseas returnees. Among the nearly 200 overseas students who are working in the park, the majority are master's and doctoral degree holders.

The 5,000-square-meter park has 100 office spaces, eight meeting rooms and more than 20 independent offices. 

Luo Jinhui, deputy head of Qingpu district's human resources and social security bureau, said that the district has introduced an array of favorable policies related to matters like rent exemption, startup funding, employment subsidies and loan interest subsidies to attract overseas talents.

Luo added that the district authorities are planning to build one to two sub-parks for returned overseas students this year. 

Among these returnees is 28-year-old Xue Yunhao, who hailed the park's good office environment. Xue has set up his toy company in the park after graduating from Loughborough University.

Another returnee who has set up a company in the park is Lin Mao, a 34-year-old Sichuan native who studied in the UK. Lin started his business three months ago with co-founders Li Bin, a 26-year-old from Changsha, Hunan province, and Hou Yue, a 27-year-old from Beijing.

"We had set up a film and television studio in the UK, and after returning to China, we decided to establish a company in Shanghai mainly focusing on producing film and drama shorts. Shanghai's support policies are very appealing and it is very convenient here," said Lin.

Presently, the park has startups related to fields such as new energy, energy conservation, environmental protection, new materials, industrial internet, high-end equipment, digital economy, health and wellness, and fashion innovation.

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