(Yicai) Dec. 9 -- Despite having 129,100 workers in biomedicine, Pudong New Area, a Shanghai business district renowned for its financial and high-tech industries, still faces a significant talent shortage, according to a think tank report.

Although the situation has improved over more than 30 years of development, the local biomedical sector—which includes genetic engineering, vaccines, and medical imaging—continues to require additional workforce resources, according to a report led by the Shanghai Center of Biomedicine Development released during a sub-forum of the 2024 Pudong International Talent Hub Forum.

Among the biomedical professionals in Pudong, 61 percent hold bachelor's degrees or higher, and 4 percent have doctoral degrees. The proportion of PhD-level professionals ranks first among Shanghai's three leading industries.

The demand for high-quality talent is more urgent than ever, per the report. More people are needed in biological drug research and development, chemical drug R&D, clinical trials, formulation development, as well as registration and sales.

As biopharmaceutical companies accelerate their global expansion, they are encountering new talent challenges. Companies seeking international growth primarily require experienced business development teams and localized human resource management teams. However, they currently lack effective overseas recruitment channels and strategic partners.

Pudong, the first district with the authority to issue confirmation letters for foreign high-quality talent, unveiled a policy document during the forum to streamline foreign talent acquisition. The district can now issue permanent resident ID cards through an expedited application process. Pudong will also facilitate long-term and multi-entry visas for foreign talents and their families for study and business purposes.

The district is implementing multiple strategies to facilitate talent entry. For instance, the International Talent Station—a local residential and office complex—provides 14 days of complimentary accommodation for high-end foreign professionals and offers 12 months of free office space to startups.

Editors: Tang Shihua, Emmi Laine