A view of the Shanghai Chemical Industry Park. [Photo/VCG]

The Shanghai Chemical Industry Park has released a series of measures to promote high-quality development of the park on Aug 22.

Here are some of the rewards for eligible foreign entities or talents.

1. Research centers

A one-time reward of 1 million yuan($139,618) will be granted to foreign-invested research institutions newly recognized at the city level, provided they maintain their status within the valid certification period.

2. Intellectual property

In the Shanghai Chemical Industry Park, business entities that obtain domestic invention patents or utility model patents are eligible for a one-time reward of 5,000 yuan and 1,000 yuan, respectively, for each patent.

For entities applying for foreign invention patents through the Patent Cooperation Treaty or the Paris Convention, a one-time reward of 40,000 yuan will be awarded upon authorization.

3. Talent

This category includes Nobel Prize laureates, foreign academicians, members of the Chinese Academy of Sciences and Chinese Academy of Engineering, and other similarly high-caliber professionals (Category A talent); experts under national high-level talent programs or those of equivalent standing (Category B talent); as well as those included in the Shanghai Magnolia Talent Plan or the Shanghai Oriental Talents Plan, team leaders or equivalent individuals (Category C talent).

Housing, living, and transport subsidies will be provided to Category A, B and C talents who settle in the chemical industry park. Category A talents can receive up to 20,000 yuan per month, Category B talents up to 15,000 yuan per month, and Category C talents up to 10,000 yuan per month.

The total subsidy for each Category A or B talent should not exceed 500,000 yuan and for Category C it should not exceed 300,000 yuan. A Category A talent must sign a work contract with their employer and work for more than three months, while a Category B or C talent must work for at least one year.

4. Enterprises

For foreign-invested enterprises in the encouraged industries of Shanghai Chemical Industrial Park, those that have invested no less than 20 million yuan in the preceding year and are registered in the "Shanghai Foreign Investment Information Management System" will be entitled to a reward equivalent to 1 percent of the actual investment made. The annual reward for each enterprise shall not exceed 3 million yuan.