Overseas Chinese students return to launch businesses   2002-10-21 10:15:47 So－called "Brain Drain" was once a looming problem in China. As China "opened up" and gradually allowed more talented students to pursue further education in other countries, the challenge of enticing some of China's best and brightest back to the country became an issue. However, with China's improving legal system and investment environment, overseas Chinese talents have begun to come back to their homeland and launch businesses here. In today's Changing China series, Mao Xuzhi examines why. Chinese parents have traditionally held high aspirations for their children. With China's economy enjoying rapid growth over the past two decades, the path towards realizing their hopes is increasingly leading to education. Today, most parents hold nothing back in investing in their children's tutelage. Years ago, returning to China was embarrassing for most overseas Chinese students. For quite a long time, studying and working in developed countries had become a way for many young Chinese to seek personal development. But now, with China's advancing economic development, returning to China means "opportunity." And for many, such unique "opportunities" can only be found in their homeland. Gao Wei, a Chinese woman who had studied and worked in the IT sector in the United States for several years, was one of thousands of overseas Chinese students who returned. As a career woman, Ms. Gao exudes confidence in herself, believing she can launch her own business in China from square one. Gao Wei said, "I've wanted to launch my own business in China for some time because the market was becoming ripe. Now the government has worked out favorable policies for us. Now it's just the right time for me to grab the chance." Ms. Gao established her company in the International Incubator in China's silicon valley, Zhongguancun, less than half a year ago. As its name indicates, the incubator exclusively focuses on overseas student start－ups. The companies setting up shop here enjoy a range of preferential policies, including reduced rent, as well as various exemptions, including tax cuts. Start－up funding is also available. Another student who benefited from the incubator, Dr. Huang Ruiqing, had been engaged in agricultural gardening in the Netherlands for 10 years. As an outstanding overseas Chinese student, Dr. Huang was received by Chinese Vice Premier Li Lanqing in 1999. From that time on Dr. Huang began thinking of returning to China, bringing back his advanced horticultural skills from the Netherlands. In the past two decades, some 150,000 students have returned to China, accounting for one－third of the total population of overseas Chinese students. This number is expected to continue increasing following China's WTO membership as the country implements international practices. Indeed, China's rapid economic development has created a wonderful stage for returned overseas Chinese students to demonstrate their talents. Because of the government's favorable policies, they have begun to play a pioneering role in China's economic life. The advanced technology and experience they bring to China will definitely help the country accelerate its modernization drive.