The coastal city of Qingdao is preparing to attract high-end talent for social and economic development.

The government announced its recruitment goal of 115,000 talents at a recent work conference, which includes 12,000 people with master's or PhD degrees, 99,000 college graduates or people with professional skills, 1,965 overseas returnees and 2,490 foreign experts.

In order to fulfill the goal, Qingdao will roll out a series of favorable policies including increasing pay subsidies, reforming its professional title evaluation system, improving industrial services for high-end talent, streamlining work permit procedures for foreign experts and enhancing high-end personnel exchanges.

The city will also set up a group of startup incubators and platforms to encourage innovation and entrepreneurship. An industrial park is planned to be built in Laoshan district for local academicians and experts to commercialize research achievements and start businesses.