The first 11 professionals from Hong Kong to obtain permanent residency allowing them to work in the city were welcomed warmly by Shanghai's top municipal leaders on Sunday, Shanghai Labour Daily reports.

Deputy Party Secretary Wang Anshui said the exchange of professional talent between Hong Kong and Shanghai was of great significance.

Shanghai urgently needs a large number of professionals to support its development into an international centre of trade, finance and shipping.

In accordance with CEPA, sharing talent and expertise is the first step in all-round co-operation between Shanghai and Hong Kong, and a major move towards building up the city's talent pool.

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