Returnees help drive country's development

Chinese returnees who have studied overseas play an important and unique role in advancing China's development with their international perspectives and adventurous spirit. Beijing Youth Daily comments:

Many of those who have returned to China after studying overseas are making outstanding contributions to the development of high-tech emerging industries, which has brought more opportunities for China's taking over on the curve.

Returnees have brought back with them a wealth of sophisticated technological knowledge and modern business ideas that have enabled China to catch up with developed countries in terms of high-tech and emerging industries.

The biggest difference from the previous generations of returnees is that the most recent generation of overseas returnees has coincided with China's move toward a socialist market economy. And the concepts of corporate management they have brought back with them and new thinking on research financing methods have boosted the development of the domestic internet, IT, communications, biomedical, media, and culture and education sectors.

According to the Ministry of Science and Technology, more than 60 of the unicorn enterprises in China last year were founded or run by returnees.

Returnees are now playing a similar role in promoting the development of China's service sector, particularly in financial services, consultation, law, public relations, advertising, tourism, and conventions and exhibitions, promoting the development of China's service sector.

Only with the continuous improvement of the economic structure and its optimization can China's economic outlook be more stable and sustainable. The country should do more to better leverage the skills and knowledge of returnees.

To make better use of the returnees and encourage more to come back, the government should enhance its preferential policies for the returnees' entrepreneurship, reduce the red tape for startups, further improve the business environment, talent policies and intellectual property rights protection.