China plans to ease visa rules to attract foreign talent and money

China promised on Wednesday to relax its visa requirements to attract overseas workers under a wider liberalization plan after foreign investments fell to a record low last year, Report informs, citing Nikkei Asia.

The government outlined plans at a news conference that range from eliminating entry barriers to foreign investment in the manufacturing and financial sectors to issuing long-term work visas to expatriates and their families.

Jia Tongbin, an immigration officer, said expatriates who work for "well-known" companies or are involved in scientific research would be able to apply for five-year visas, rather than the current annual applications, once they had lived in the country for two consecutive years under the new rules.

Permanent residency will also be considered for those who are eligible, he added, without specifying any conditions.

Separately, business travelers with legitimate reasons to be in China could apply for five-year visas, rather than the current one-year, multiple-entry ones.