The First Conference on International Exchange of Professionals for Private-owned Enterprises will be held in Wenzhou, Zhejiang Province, between November 26 and 28.
Sponsored by the State Administration of Foreign Experts Affairs and the Wenzhou government, the conference is seeking high-level foreign experts, especially technology and management professionals, to fill 237 highly-paid positions in the city's privately-owned enterprises.
The conference will offer 30 jobs with an annual salary ranging between  500,000 yuan (US$60,240) and 1 million yuan, and another 55 positions paying between 300,000 to 500,000 yuan annually, Wenzhou officials said.
In addition, 266 high technology projects will be promoted at the conference to attract foreign investment or to seek cooperation from overseas Chinese.
Foreign professionals recruited to work in the city would enjoy the same welfare benefits as Wenzhou natives, such as medical and social insurance, according to Su Guangming, SAFEA vice director.
"As Wenzhou's privately-dominated economy has come to a key conjuncture at the moment, it's time for these fast-developing private firms to overcome their difficulties through introducing advanced foreign intelligence," said Wenzhou's Deputy Party Secretary Bao Zhedong.
Wenzhou, the most active area for China's private business, saw privately-owned companies account for 99 percent of its total number of companies.
The profits generated by the firms contributed to 96 percent of the city's gross domestic product and 70 percent of its fiscal revenue.
With the private companies' development, their labor-intensive production mode cannot meet their fast business expansion. The city is currently in need of high-level foreign professionals who can bring them advanced technology or business management expertise, Bao said.
Currently, more than 100 foreigners are employed by 70 private firms in Wenzhou.