China has launched a fresh initiative to recruit around 2,000 outstanding young professionals from overseas in five years, according to a statement issued by China's central authorities on December 14.

Under the government-funded "Thousand Young Talents" program, each of the selected overseas young professionals will be offered a subsidy of 500,000 yuan ($75,153) to cover their living expenses and another subsidy of 1 million yuan ($151,500) to 3 million yuan ($454,500) for scientific research.

Applicants for the program should be professionals working in natural sciences or engineering fields and under age 40, according to the statement.

With doctoral degrees gained from prestigious overseas universities as well as more than three years of scientific research experience, targeted professionals should currently hold teaching or research positions in well-known overseas universities, institutions or companies, the statement said.