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December 24, 2013

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Overseas returnees flock to city

Shanghai remains the most sought after destination for Chinese returning from overseas with many of them venturing into businesses in a city offering better opportunities and environment for young entrepreneurs.

Some 100,000 students studying abroad had returned home and picked up jobs in Shanghai by June — far more than other Chinese cities, the Shanghai Association of Enterprises of Overseas Talents said.

Some 2,000 overseas returnees have become senior officials at multinational corporations and international institutes in Shanghai while another 100 are now working with government departments, said Ding Weina, deputy director with the association.

Many more preferred to start their own businesses after returning to the city. They have opened some 4,500 companies in the city with total registered asset of 640 million yuan (US$105 million), Ding said.

“Shanghai has 11 enterprise parks for the overseas returnees that offer more opportunities and better environment for the overseas graduates to become entrepreneurs,” she added.



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