Under a new program to hire 1,000 overseas specialists, the central government will offer each 1 million yuan (146,000 U.S. dollars) in subsidies.

If employed, they will also be able to enjoy fundamental social security policies including medical care and pensions.

The spokesman of the Organizational Department of the Communist Party of China (CPC) Central Committee, made the announcement in an interview with Xinhua Friday.

The official said the general principles of the program were as follows:

An eligible candidate, regardless of his or her nationality, should be aged 55 or younger, should stay in China for six months or longer every year, have an academic title equivalent to professor, or currently work as a senior managing staff with a well-known international company or banking institution.

Candidates also include those who have developed technologies or patents and those who have set up their own businesses abroad and are familiar with international rules in a certain industry.

Those who want to apply for the program should contact institutions involved in central government-funded innovation programs, laboratories, companies or state-owned banking institutions and high-tech parks.

Eligible persons can also send their application directly to the Ministry of Human Resources and Social Security, the State Administration of Foreign Experts Affairs, the All-China Youth Federation, the China Association for Science and Technology and the Western Returned Scholars Association.

There is no deadline.

The candidates must pass two appraisals by experts within the candidate's same profession and a group of noted scholars, entrepreneurs and venture investors.

Employers can appoint the new hires to be leaders of colleges, research institutes, central government-controlled companies, state-owned banking institutions, or government-funded key research programs.

(Xinhua News Agency March 21, 2009)