According to the Interim Rules for the System of residence permits of the Shanghai Municipality Applied to Imported Talent under Order No. 122 of the People’s Government of the Shanghai Municipality, a person holding the residence permit is entitled to the rights and preferential treatment as follows:

(1) Equivalent treatment when establishing enterprises, engaging in scientific activities, enrolling children at school, implementing patents, and processing exit/entry formalities in Shanghai;

(2) the right to be engaged with administrative government agencies, be recruited by enterprises or government-sponsored institutions, or participate in a professional technical/functionary assessment in Shanghai under the relevant rules and regulations;

(3) the right to exchange RMB revenue for foreign currency in a designated bank and remit these funds to an overseas account if the holder of the residence permit is a foreigner, and

(4) the right to participate in Shanghai’s Basic Pension Insurance and Basic Medical Insurance systems if the holder of the residence permit is a Chinese citizen or a student studying abroad who is not naturalized in a foreign country; also, the right to pay and use the Public Accumulation Fund for Housing Construction in Shanghai subject to the applied rules and regulations if the holder of the residence permit is a Chinese citizen.