China has vowed to improve its permanent residence policy and bolster favorable treatment for high-calibre overseas talents this year in a bid to attract such labor and boost the country's development.

Yin Weimin, minister of human resources and social security, made the remarks Wednesday at a conference on attracting overseas talents.

"This year, China will expend more effort on solving issues concerning the visas and residency of high-level overseas talents... and creating favorable policies for them in social insurance, taxation, medical services, their children's education and academic funding, and other areas," said Yin.

According to the minister, the country will give special focus to attracting overseas Chinese talents to return for their career development.

In August last year, the Central Government set a goal of attracting at least 500,000 overseas Chinese scholars from 2011 to 2015 to assist in the country's development.

Statistics show that, from 1978, when China introduced its reform and opening up policy, to the end of 2011, the number of Chinese studying abroad was more than 2 million, and that only 818,400 of them returned.

(Xinhua News Agency March 14, 2012)