China to issue ‘K-visa’ to attract foreign talent in IT sector
China is set to issue ‘K-visa’ to attract the world’s skilled workforce in the information technology sector. China has come up with such a plan targeting technicians who are looking for an alternative path after the US recently increased the fee for H-1B visas. The initiative is seen as a strong step for Beijing in the geopolitical competition between the US and China.
Although China has a sufficient number of local engineers, it is said that it is trying to provide a comfortable environment for foreign investment and talent to address the growing trade tensions and the economic slowdown. Earlier, China had also taken initiatives such as granting visa exemptions to citizens of European countries, Japan and South Korea to promote foreign investment and tourism.
Although the ‘K-visa’ was announced last August, it is said that it will be implemented from this week. The new visa is targeted at people with degrees in information technology, science, engineering and mathematics (STEM). Its specialty is that it allows people to live and work in China without a prior job offer.
China's decision is expected to attract skilled workers who have lost their jobs due to the new US rules. Indian technicians are expected to benefit in particular.

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