China encourages foreign sci-tech entrepreneurship

China supports foreign talent with permanent residence certificates to set up sci-tech enterprises, according to guidelines recently issued by the country's Ministry of Science and Technology.

The guidelines, aimed to support innovation and development of small- and medium-sized enterprises (SMEs) in science and technology, said that foreign entrepreneurs will enjoy the same treatment as their Chinese counterparts.

SMEs in science and technology are important forces in fostering new engines of growth and promoting high-quality development. The ability to innovate is their competitiveness, the guidelines said.

Other favorable policies for SMEs include tax reduction, financial assistance and participation in major national sci-tech projects.