In spite of the frosty winter in China and the global economic winter, different regions in China are putting out the welcome mat to win overseas students back to China. Recruitment conferences, exhibitions showing off the fruits of returnees' researches, seminars on preferential policies, are all being conducted especially for these returnees in the new year. Chinese overseas students are finding themselves wooed by the motherland. In today's Market Analysis, we will take a look at how China is providing a sound all-round environment for these returnees.
VIPs from both political and business circles, congratulations on each other's business success, prizes awarded for efficient management of companies, this is not an ordinary New Year Party. The Overseas Students Pioneer Park of Zhongguancun Haidian Science Park is celebrating its five-year birthday. The park mainly aims at providing a platform for overseas Chinese students to start their own business and incubates them for bigger and greater things.
Wang Shiqi (Deputy Director of the Zhongguancun Overseas Students Pioneer Park): the Zhongguancun district is in urgent need for talents, who have both advanced technologies and new management concepts. It's obvious that Chinese overseas students have grasped both. The country and government are hoping they can come back, and use their knowledge to benefit the country's development.
After five years of operation, the Zhongguancun Overseas Students Pioneer Park has embraced over 260 returnees, who have set up more than 260 enterprises in the area of 50,000 square meters. So far, 22 enterprises have been successfully incubated. In addition, the park construction also got a helping hand from the local government who poured in around 4 million US dollars. The municipality also issued preferential policies to establish a sound business environment for overseas students.
Zhongguancun Overseas Student Pioneer Park
Returnees: 261
Enterprises: 268
Incubation Area: 50,000 m2
Incubated Enterprises: 22
Government Support: US $ 4 million
Source: Zhongguancun Overseas Student Pioneer Park
Zhao Feng (Director of the Beijing Municipal Service Center for Scholarly Exchange): to enact policies for the start-ups and to construct a healthy business environment is our main task. In 2000, the Beijing municipality issued a regulation on how to encourage overseas students to come to Beijing starting up companies. The announcement tried to solve problems overseas students encountered in setting up business. Some of these initiatives are carried out for the first time throughout the country.
The Government has had a keen eye on these returnees. So far, more than 60 overseas student pioneer parks have been set up around China. The number of enterprises established by these returnees reached 4,000 with an annual output exceeding one billion US dollars. Their success has also attracted overseas companies' attention. Chinese talents are well known for their business acumen. Many overseas students are attracted back, because China's economy is in the stage of rapid growth. Many international companies in this case choose these returnees to bring to China their international investments.
China's Overseas Student Pioneer Park
Number: Over 60
Enterprises: 4,000
Annual Output: US $ 1.25 billion
Source: China Investment Press
Lai Seckk Khui (President of the Times Publishing Ltd., Singapore): Chinese talents in business are very famous around the world. The Chinese students increasingly find China an attractive place to return to after their education overseas, because China is a very big market, and it's a market which will eventually become very strong in many other manufacturing.
The tide of returning Chinese overseas students has also roused the competition among human resource service companies. Many world-known recruitment companies also put Chinese overseas talent hunting as their top priority. According to statistics, so far, over 400,000 Chinese have gone abroad for further education. Over 90% have been granted master or doctor degree. Among them, 80% want to return. Over 140,000 students have come back and many have achieved success. The talent flow has undoubtedly provides opportunities for headhunter companies.
Chinese Overseas Students
Number: Over 400,000
Granted Degrees: 90%
Potential Returnees: 80%
Returnees: 140,000
Source: China Investment Press
Paul C. Reilly (Chairman of the Korn/Ferry International): they come back to China, bringing their international experiences to local companies. What's been a big issue is that some back are very well, but some getting adapt to the western style have to handle the operation in Chinese companies. So it's not a perfect fact for all. But for many companies, it's a great way to bring talents.
The returning of Chinese overseas students has got much support from so many circles. Is it right or not? This special phenomenon has evoked controversy. Returnees' activities and ideas have also met with disagreement from some experts. Under such circumstances, the China Investment Press initiated a discussion, aiming at boosting society's understanding of these returnees. In their chief editor's opinion, the key problem is how to correctly utilize these returnees' skills and let them fully contribute to the country.
Guo Hong (Chief Editor of the China Investment Press): through this activity, we can introduce some successful returnees to the society, and let the society know their advanced international experiences. Especially at this moment when economies in America and Japan are in recession, many overseas students have come back. These returnees know little about the current conditions in the country. As media, we are under the charge of the nation's economic departments. It's up to us to introduce them to the country's investment environment and polices.
Although the controversies exist, many overseas students have insisted on coming back, not only because there is great business potential ahead, but also because they are Chinese. For the returnees, their beloved motherland -- China, is their main reason to choose the road back home.
Daniel Xu (returnee with Blue Asset Canada international Inc.): I've been in Canada for 5 years. During that period, we've developed a lot of new products, technologies. Our Canadian partners wanted to invest huge amount of money to set new business. The products are good, but we belong to China, we are Chinese, we should put this product in China, not in other country.
Perhaps that's one of the main reasons why so many overseas students are aspired to return. Actually, at the same time that they bring back the knowledge and culture of other nations, and they have already instilled elements of China's knowledge and culture into these foreign areas. The talents exchange has brought benefits for both China and the world.
Frederick C. Dubee (Global Compact of the Executive Office of Secretary General, UN): It's good for the world and for China. Of course Chinese students return with very interesting knowledge and very interesting experiences. They are even creating bridges between their friends and knowledge they have learned outside China to bring that to China. At the same time, they create bridge the other way, help a lot of Chinese ideas, influence and culture go to the rest of the world. What I think is we have to do more of this.
The Chinese government is putting much emphasis on setting up this win-win environment. An investment market with standardized management and transparent legal system will be gradually formed. This can provide more development space for overseas students coming back. During the transitional period of China's global integration, these returnees are becoming a necessary part of China's human talent pool.
Fan Hengshan (Director of the Economy System Reform Office): if we have a healthy environment for starting up companies, many overseas Chinese students will be glad to return. At this time, the country is in urgent need for talents and investment, especially those who have deep understanding of both global market rules and China's characteristics. Returnees' coming back can benefit both themselves and the country. By serving the country, they can find the best model of generating profits. Thus, we can get a win-win situation.
Entering the 21st century, the lure of China as an investment destination grows in the eyes of international investors, especially when China becomes a member of the World Trade Organization. In the years to come, there are still many areas in both the economy and society that need to be developed. This is a golden time for overseas students to return and find a platform to start new careers or expand existing businesses. China is embracing more and more returnees, and these engineers of the future will play a key role in changing the social and economic landscape.
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