Permanent residence in China, called the Chinese green card, is considered the most difficult permanent residence in the world. In the story of one Belgian citizen who was able to get a green card in China.
Most of my assets are in China and in Chinese yuan, they are not easy to quickly convert into foreign currency simply because their value is too high (apartment, car, etc.), and the only way to convert them into another currency is through financial channels gray area which is not an acceptable risk, while the green card does make it easy to convert to foreign currency (same restrictions as for Chinese citizens), the biggest advantage is that there is no need to sell and leave China as I I can legally retire in China because my wife is Chinese and my son is Belgian and the green card gives a much more stable legal balance.
First, I issued a financial obligation (the easiest way to prove the availability of funds is to freeze 200 thousand yuan in a bank account for 1 year with a certificate from the bank that the money is blocked for 1-year investment), after that I applied to the local Entry and Exit Department to apply for permanent residence in China.
At the time, I heard a lot of myths (but can't confirm) about the Chinese government, which went as far as interviewing every neighbor you've ever lived close to inside China.
There is a certain kind of fear-mongering about your traceability, but I've found that it's mostly either nonsense or something that can't be done.
The first step to applying for permanent residence with the help of the Entry and Departure Department can be a little intimidating (but they are actually very helpful and friendly), they helped me fill out the application for permanent residence and related paperwork, and when I received my green card, I congratulated and greeted as a person from Shanghai, I have never heard of luck or a quota to be filled (this comes up again when people discuss these things, but I have not actually seen anything and do not know the evidence to support this theory).
I have received a lot of help from the Entry and Departure Department, I feel that they get some satisfaction from successful candidates and I was very pleasantly surprised by their willingness and even support in my individual case. I am very grateful to these people.
The Belgian consulate helps me a lot, without them it would be almost impossible, sometimes the consul general himself had to write additional letters to clarify certain issues.
This is actually quite simple, IF all the expected documents are available, there are many differences in how this is done by country, some things are quite difficult to get.
But the process of obtaining permanent residence in China took exactly 6 months from the date of application. To prepare for the application, together with the Shanghai Department of Entry and Departure, we add another month or two.
For future applicants for permanent residence in China, I want to note that perseverance is the key here. Also, make sure you work closely with many people in community social activities, they can help you a lot, all applications end up going to Beijing where they won't know you or your background (this may be different for expats located in Beijing) and make decisions based on the information they have. If any part of this information is incorrect or incomplete, you can expect your application to be rejected