up policy, China opened上海后花园nomy to the outs

side world, boosting Chinese businesses’ need for returning talents. They will n

eed more overseas returnees as the country‘s economy keeps growing and as it further o上海后花园女神会所

pens the economy. More talents, meanwhile, will move back,” he said.

To enhance competitiveness, a number of Chinese cities have jumped into a fierce “war” f上海后花园

or talents with attractive financial support, favorable hukou (household registration) policies and other subsidies.

上海后花园女神会所Shenzhen in Guangdong province, for example, has started its “peacock project”

to attract overseas returnees since 2011, and is granting rewards of 3 million yuan ($432,000) to high-end o

verseas talents in industries that are facing an acute shortage of skilled workers.上海后花园

In June, Guangdong announced a policy to reduce taxes for overseas talents and the much-needed

skilled workers planning to move into the Guangdong-Hong Kong-Macao Greater Bay Area.上海后花园

“The Chinese immigrants overseas and students overseas are the em

上海后花园女神会所erging power of China’s future economic development,” said Wang Huiyao, fo

under and director of the Center for China and Globalization, a nongovernment think tank in Beijing. “The ta

lent war is getting more and more fierce. In Silicon Valley, international talents count for 50 percent of its total tale上海后花园

nt pool, but in Zhongguancun (China’s technology hub in Beijing), the ratio is only 1 percent.”

About 53 percent of the surveyed respondents mo

上海后花园女神会所ved back for opportunities to progress and develop their careers i

n key emerging sectors that face talent shortages, such as the biopharmaceutical industry.

However, better payment was not the sole reason for the s上海后花园

hift, the report said. “Being close to family is of paramount im

portance to professionals who want to return to their families as Asia is aging rapidly.”

上海后花园女神会所The survey found that 71 percent of the Chinese overseas returnee respondents regarded family as

the prime motive for moving back to the home country, a rapid increase from the 41 percent seen in a similar

Hays survey in 2013, despite the fact that they may not receive a pay increase at home.

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