China plans to relax Green Card policy to attract foreigners

China plans to relax its US style "green card" policy by lowering the application and approval threshold in a bid to attract more foreign talent for its high technology industry and institutions.

Authorities are deliberating revision to regulations on permanent residence for foreigners, considering more flexible and pragmatic application standards, the Organisational Department of the Central Committee of the Communist Party of China said today.

China launched its green card system in 2004 on the lines of Green Card policy of US.

Under the system, the foreign family members of Chinese nationals and foreign people who have worked as elite talent or made large investments (at least $5 lakhs) among others, can apply for permanent residence cards.

Nearly 5,000 foreigners had been granted Chinese green cards by 2012, state-run Xinhua news agency reported.

As of May 23, 1,306 foreigners had gained permanent residence in China through a foreign talent recruitment plan known as "1,000 talent plan" or through recommendations by central ministries and provincial governments, according to the department.