Business perks draw overseas graduates

An increasing number of Chinese overseas graduates are pursuing careers in China, attracted by favorable regional government policies.

"There are some job opportunities in the US, but I believe there is a greater potential of industry development in China," said Hong Xi, who received a PhD from Michigan State University in the United States and returned to China in September.

Hong, 32, who studied chemical engineering, said another reason for his return is that the conditions for starting a business in China have improved since he left the country for school.

Hong said the size of the subsidy and a simplified registration procedure for a company will be factors when he decides where to be.

Lin Bo, who works at a research institute in Singapore, wants to start his own company in China. He and three colleagues own a patent for a smart security system.

Lin studies optical fiber communication and received his PhD from Nanyang Technological University in Singapore. "Many overseas Chinese who have a good patent or acquire unique technology would like to come back to China because there are many more opportunities," he said.

Zhang Binlong, general manager of the government-owned Shenzhen Overseas Chinese High-Tech Venture Park, said he will grant subsidies of up to 1 million yuan ($160,000) to individuals to start their own businesses in the park. For teams, the amount can be up to 80 million yuan.

"We have a list of areas of interest, such as new material, new energy and environmental protection, and applicants' projects should be in line with the categories on the list," he said.

"Applicants must own intellectual property rights for their products, technologies or innovative projects."

Zhang said his park also provides financing and consulting services and favorable land-use policies for the business startup of overseas returnees.

In Suzhou, Jiangsu province, in addition to a subsidy of 1 million to 4 million yuan, the government grants a workplace of no less than 100 square meters to overseas returnees who start a business in one of the 17 industrial parks in the city.

The returnees also get 500,000 yuan to 2.5 million yuan in housing subsidies.

chenxin1@chinadaily.com.cn