Chinese Firms Hungry for Talent

This was a recent article from the Asia Times which discusses the problem of Chinese students going abroad to study and further shrinking the talent pool within China for foreign companies to choose from.

In the 1980s and most of the 1990s, almost all talented Chinese students wanted to study abroad. And those who were lucky enough to be able to study in advanced countries such as the United States or Japan would make every effort to remain there after graduation, reluctant to return to China.

But times have changed. Because of rapid economic development, living and working conditions have dramatically improved in China. In recent years, more and more Chinese citizens studying overseas are returning home to work or start their own businesses. An increasing number of multinational corporations have set up operations in China, providing job opportunities for returned overseas Chinese students.

Although multinationals have helped to lure back and retain domestic talent, they also pose great challenges to domestic companies and research institutes.

Wu Yikang, senior adviser for the Chinese Association for International Science and Technology Cooperation, said more and more local talent in China has flowed to multinationals because they tend to be engaged in cutting-edge high-tech research and offer generous salaries.

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