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Briefing: China offers Tesla’s Elon Musk permanent residency
Tesla boss Elon Musk says he loves China, so Premier Li Keqiang offers him a green card – SCMP
What happened: Chinese Premier Li Keqiang offered Tesla CEO Elon Musk a green card earlier this week during a meeting at Zhongnanhai, the headquarters of the Communist Party and the government. During the meeting, Musk expressed his affection for China, with Li responding by saying he could be granted permanent residency. The meeting followed Musk’s visit to Tesla’s Gigafactory 3 project in Shanghai, the company’s first production base outside of the US.
What happened: China is looking to promote foreign investment and attract international talent. However, Chinese green cards are notoriously difficult to obtain. In 2016, around 10,000 were awarded to foreign nationals. In contrast, more than 1 million people were granted permanent residency in the US during 2017. Tesla’s factory is a big deal for Shanghai. It is the largest foreign investment-funded industrial project in the city’s history. Li said he welcomed greater cooperation with companies from around the world.