Meeting with Mr. Jin Wang, Shanghai Commission of Commerce

2021-09-17 | Shanghai, National

Meeting with Mr. Jin Wang, Shanghai Commission of Commerce

Mr. Jin Wang interpreted SCOFCOM’s latest policy on foreign-funded R&D Center in Shanghai and answered member companies' questions about their qualification and application procedure. 

A global R&D centre refers to a global-level R&D centre established by a foreign cooperate. The centre’s accumulative R&D expenditure shall be no less than 10 million USD and its R&D expenditure in last financial year should take up at least 10% of the parent company’s global R&D expenditure.

A foreign-funded open innovation platform refers to a research and development centre that promotes project-based cooperation with SMEs and innovation teams to realize co-innovation by providing facilities, equipment, research and development sites, and professional guidance and by leveraging the platform’s technology, talent, capital, data, and other resources. The investment in the platform shall be no less than 2 million USD and the area of it shall be no less than 1,000 square meters.

For all qualified foreign-funded R&D centres, Shanghai municipal government provides customs clearance convenience, special services for domestic and foreign talent recruitment, and special visa services. In addition to the abovementioned services, Shanghai municipal government also provides subsidy for the establishment of qualified Global R&D Centre and for the centre’s rental expense.