AS of June 15, a new residence policy aimed at attracting talented people from elsewhere in the country and abroad, was put into practice.

The policy has granted some new advantages to expatriates in Shanghai.

By applying for a Residence Card, which has different terms (six months, 1 year, 3 years and 5 years), expatriates can save a lot of troubles on things like foreign exchange, children's schooling, and exiting or re-entering China.

The main advantages are as following:

?With the Residence Card, the foreigner needn't apply for other employment permits.

?The children of Card holders have many choices besides international schools. They can enter other local schools like Shanghai children.

?Card holders can enter or exit China many times without each time renewing their visa during the term they live in Shanghai.

?Card holders can exchange renminbi, if it is legal income, into foreign currency at designated banks without the former limitations on the amount, and remit the money abroad.

Although the policy has just been released, some quick-sighted companies have already focused their business on it - helping expats apply for the Residence Card.

Naomen International Education Consultants Ltd believes it is one of the earliest to set eyes on it.

"Before the policy was released, we got a complete plan on the business," said Danielle Dan, president of its China operation.

"The procedure for getting the card, although it has been simplified, is still complex. We believe there will be many expatriates who are too busy to go through all these procedures by themselves." (Star News)