Why should Chinese people have to compete for jobs with foreigners in China?
The thing is that immigration is not zero sum, migrants arrive into a country and rent property, they buy furniture, they get haircuts, they go to restaurants, etc., more migrants can result in more domestic jobs being created.
My main concern is that this job creation isn't evenly distributed through the economy, if you allow a large number of software programmers into your country it will create employment pressure for software development as an industry, although it might create more hair stylists and cooks and contractors who renovate homes that these people are renting. When age discrimination for people over 35 is a serious issue in Chinese STEM industries, creating a visa that makes this issue worse by specifically targetting young foreign STEM workers is an even more puzzling decision.