Publication: Entrepreneurs: impact on China’s globalization process
Huiyao Wang; David Zweig; Xiaohua Lin
Online publication date: 09 May 2011
ABSTRACT: Recent research on returning Chinese students has focused on their role as an alternative solution to their home country’s mandate to build technological capacity. This study shows the depth of the ‘brain circulation’ that is underway and the fact that overseas students are not only serving China from abroad or by returning, but after they return they play a leading role in many aspects of China’s ‘going out’ strategy. These returnee entrepreneurs present many advantages to the Chinese economy. They have studied at the best universities in the world, were deeply involved in the New Economy, and have gained valuable experience in listed companies overseas. They often possess venture capital, many have experience working with some of the best MNCs in the world, and they serve to contribute enormously to China’s current economic engagement with the world. The paper describes the returnees’ impact on China’s globalization drive and analyzes the factors leading to their success in comparison to MNCs and indigenous Chinese firms.