Shanghai moves to boost technological innovation

Shanghai has rolled out an array of measures to inspire technological innovation, according to a directive issued by the municipal government on Tuesday.

Aimed at developing the economic hub into a "technological innovation center with global influence", the government vowed to reduce red tape for startup firms and attract talented people at both home and abroad.

The document said the government will cut bureaucratic procedures for startups and abolish administrative examination and approval of new technology projects.

The government will give more freedom to universities and research institutions to commercialize their findings, as well as allow researchers in public institutions to work part time at technology companies.

It will also simplify procedures for overseas talent to obtain residence permits in Shanghai. Entrepreneurs, venture capital managers, as well as R&D employees, from other parts of the country will be prioritized if they apply for registered permanent residence, or hukou, in Shanghai.

The document said the government will explore ways to encourage residents to buy new energy vehicles. Endi