China is considering relaxing its "green card" policy by lowering the application and approval threshold, a move to attract more foreign talent.

Authorities are deliberating revision to regulations on permanent residence for foreigners, considering more flexible and pragmatic application standards, the Organizational Department of the Central Committee of the Communist Party of China revealed on Monday.

China launched its green card system in 2004.

Under the system, the foreign family members of Chinese nationals and foreign people who have worked as elite talent or made large investments (at least 500,000 U.S. dollars), among others, can apply for permanent residence cards.

Nearly 5,000 foreigners had been granted Chinese green cards by 2012, according to a media report.

As of May 23, 1,306 foreigners had gained permanent residence in China through a foreign talent recruitment plan known as "1,000 talent plan" or through recommendations by central ministries and provincial governments, according to the department.