Shanghai moves to be top expat destination

Night scenery of Shanghai [Photo/IC]

The Australian Trade and Investment Commission based its business incubator in XNode, a startup accelerator in downtown Shanghai. Daniel Zhan, the commission's Landing Pad project manager, said it assisted Australian companies access the Chinese market.

Australian start-ups are keen to explore China's health, AI, Web of Things, education, science and finance markets, said Zhan.

Half of the start-up businesses served by XNode are from overseas, said founder Zhou Wei.

"XNode has helped aspiring entrepreneurs from 24 countries and regions since it opened in 2015," he said. It has also sourced 30 million US dollars of start-up funding.

Another business incubator Histrong specializes in returned overseas Chinese talent.

"From medical and social insurance to fund sourcing, Histrong gives overseas Chinese entrepreneurs a sense of security of doing business in China," said Zhu Zhenrong who, after living in the US for over 20 years, set up Shanghai Sanoviv Biological Technology Co. Ltd. in June with Histrong's help.

Chinese American Robin Young has lived in Shanghai since 2005. He set up AI firm Seedlink in 2013 to help companies in HR management.

"It's all possible because we started in China. China is growing and has open policies for immigration," Young said.