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Global talent flocking to work in China

Friday,Oct 27, 2017

From: China Daily

A Russian student speaks with a representative of a Chinese company at the job fair held by Cirrus Project in Beijing on March 23, 2017. [Photo by Zhu Xingxin/China Daily]


 


Forbes report says nation becoming major destination, international hub

China is becoming attractive to global talent on an unprecedented level because of the nation’s economic size and vibrancy, according to a report released on Saturday by US business magazine Forbes.

The 2018 Global Talent Mobility and Wealth Management Report predicts the country will be a major exchange hub for global talent flow by 2022.

"By that time, China will be not only the largest export country of students studying abroad, but also a major destination for global talent to settle down," said Russell Flannery, Shanghai bureau chief of Forbes China.

No country in history has met both criteria, he said, adding that although India used to have the largest number of students overseas, it has not been attractive enough to global talent, such as people from the United States.

"China’s role as a hub in global talent mobility will further consolidate, and it will help the country to integrate its educational resources globally. Meanwhile, it will provide more competitive job opportunities for overseas talent," Flannery said.

It is the third year in a row the report has been jointly released by Forbes and Wailian Overseas Consulting Group, a Shanghai-based investment and immigration company.

Kenneth Jarrett, president of the American Chamber of Commerce in Shanghai, said he has witnessed a growing number of US workers coming to China over the past few years, as well as more Chinese students returning to China to set up their own businesses.

To him, this is an indicator of China’s increasing participation in the global economy.

The Chinese government has also attached greater importance to global talent, especially since the Recruitment Program of Global Experts, also known as the Thousand Talents Plan, was introduced by multiple government agencies in late 2008.

As of the end of last year, the country had attracted more than 6,000 high-level overseas workers through the program.

At the same time, the return of talented Chinese who studied or worked overseas has been noticeably increasing. Experts in the science and technology sector have made up the majority of returning talent, prompted by the government’s policies and rising domestic companies, according to the Forbes report.

"While other countries are tightening their immigration policies, China should seize the opportunity to come up with more open and friendly talent policies to attract world-class talent," said Wang Huiyao, founder of the think tank Center for China and Globalization(CCG).

 

From China Daily,2017-10-23

 

  • Number of Chinese students studying overseas exceeds 4.58 mln

    More than 4.58 million Chinese students had studied or were studying overseas from 1978 to 2016, according to a report published Monday.

  • China’s high-speed rail ’miracle’ faces new challenge

    While China’s railway system has gone a long way in breaking records for length and speed, experts are now warning of new challenges, given that two factors crucial to the original success have shifted. Addressing a seminar on Dec. 13, Wang Huiyao, president of the Center for China and Globalization (CCG), said that China holds many advantages, such as its huge population and mobile-friendly user base. High-speed rails will become a key factor as China globalizes, especially through the Belt and Road Initiative, Wang believes.

  • 【Global Times】China’s foreign trade up 9.4% in first quarter

    The continuing recovery of the global economy and a stable domestic economy have given a boost to the relatively fast growth of China’s foreign trade in the first quarter of 2018, although trade between China and the US underperformed.

  • New immigration bureau set up to handle foreigners in China

    Managed by the Ministry of Public Security, the new immigration bureau will be responsible for overseeing visas, repatriation of people found to be in the country illegally, and border control. It will also provide exit and entry services for Chinese nationals.

  • China set to play bigger role in multilateral trade system

    The 11th WTO Ministerial Conference, which closed in Argentina on Thursday, faced challenges due to some countries like the US trying to go back to bilateral trading mechanisms, said experts from the Beijing-based Center for China and Globalization (CCG) at a meeting in Beijing.