TY - JOUR

T1 - China's internal policy of attracting highly qualified specialist from abroad

AU - Veselova, Liudmila S.

AU - Lebedintseva, Liubov' A.

PY - 2018/1/1

Y1 - 2018/1/1

N2 - The main point of the paper is that China's rapid economic advancement which began in 1970s had both positive and negative impact on the development of leaders and talents in Chinese companies. Despite the fact that China is a developing economy with a large population, it also lacks labor. On the one hand, the rapid growth of companies helped qualified specialists quickly occupy leading positions. On the other hand, companies faced the problem of finding qualified managers. They began to realize that short-term tasks run counter to long-term goals in this matter, so they started to search for the talents from outside. At present, the priority of the Chinese employment policy is to bring back highly qualified specialists who have received education abroad. According to statistics, from 1998 to 2008, the number of students returning to China reached 370 000, since 2000, their number increased every year by 13%, and in 2008, it reached 57.5% of the total number of people who went abroad to study. The Chinese government provides material support to the returnees. For example, in 1992, the State Natural Science Foundation of China established a special fund that provides short-term financial support to such students. In 2008, the first venture fund was established, which supported the projects of Chinese students returning from abroad. Basically, investment goes to such areas as biotechnology, IT and high technology enterprises that can replace heavy industry and bring China to a new level. Despite the plenitude of advantages which the talents can take by returning to China, there is a number of reasons why many of them do not want to return, such as low living standards of the population, the large gap between social strata, bad ecological situation, etc.

AB - The main point of the paper is that China's rapid economic advancement which began in 1970s had both positive and negative impact on the development of leaders and talents in Chinese companies. Despite the fact that China is a developing economy with a large population, it also lacks labor. On the one hand, the rapid growth of companies helped qualified specialists quickly occupy leading positions. On the other hand, companies faced the problem of finding qualified managers. They began to realize that short-term tasks run counter to long-term goals in this matter, so they started to search for the talents from outside. At present, the priority of the Chinese employment policy is to bring back highly qualified specialists who have received education abroad. According to statistics, from 1998 to 2008, the number of students returning to China reached 370 000, since 2000, their number increased every year by 13%, and in 2008, it reached 57.5% of the total number of people who went abroad to study. The Chinese government provides material support to the returnees. For example, in 1992, the State Natural Science Foundation of China established a special fund that provides short-term financial support to such students. In 2008, the first venture fund was established, which supported the projects of Chinese students returning from abroad. Basically, investment goes to such areas as biotechnology, IT and high technology enterprises that can replace heavy industry and bring China to a new level. Despite the plenitude of advantages which the talents can take by returning to China, there is a number of reasons why many of them do not want to return, such as low living standards of the population, the large gap between social strata, bad ecological situation, etc.

KW - China

KW - Chinese economy

KW - Highly qualified specialists

KW - Labor market

KW - MNC

KW - Talent development

KW - Talent management

UR - http://www.scopus.com/inward/record.url?scp=85063108935&partnerID=8YFLogxK

U2 - 10.20542/0131-2227-2018-62-10-13-21

DO - 10.20542/0131-2227-2018-62-10-13-21

M3 - Article

AN - SCOPUS:85063108935

VL - 62

SP - 13

EP - 21

JO - МИРОВАЯ ЭКОНОМИКА И МЕЖДУНАРОДНЫЕ ОТНОШЕНИЯ

JF - МИРОВАЯ ЭКОНОМИКА И МЕЖДУНАРОДНЫЕ ОТНОШЕНИЯ

SN - 0131-2227

IS - 10

ER -