Vancouver, B.C. – May 17, 2012 – The global competition for talent is heating up and China needs to move quickly to improve its measures to attract greater human capital. This is a key argument in a new report entitled ‘China’s Competition for Global Talents: Strategy, Policy and Recommendations’ written by Dr. Huiyao Wang, Senior Fellow with the Asia Pacific Foundation of Canada (APF Canada), also Director General of the Center for China and Globalization and Vice-Chairman of the China Western Returned Scholars Association.
As part of a research report series for APF Canada’s Canada-China Human Capital Dialogue, Dr. Wang examines where China currently stands in the global competition for talent and outlines measures for China to attract top talents from abroad.
He notes that there are over 1.4 million returned students and 50 million overseas Chinese with a high level of intellectual, technological and financial capital. The cumulative return rate of Chinese students studying overseas and returning home is only 30 percent. Among Chinese PhDs majoring in science and engineering, China has exceeded India to become the largest source of overseas PhDs for the United States. He argues China has yet to reap the full benefits from global economic integration due to an insufficient cultivation of its own human capital and limited attraction of overseas talents to shift the country towards a more knowledge-based economy.
Despite these challenges, China is moving quickly ahead with programs such as the ‘Thousand Talents Program’ to attract overseas talent in the next five to ten years to create a highly-skilled national workforce by 2020.
“As emerging countries, like China, enter the same arena as advanced economies, like Canada, to attract the best and brightest minds, this raises important questions as to how countries will compete and cooperate to manage two-way talent flows in the future,” said Mr. Kenny Zhang, APF Canada Senior Research Analyst.
The Canada-China Human Capital Dialogue project is a research partnership between think tanks of the two countries on the opportunities and challenges of managing and capitalizing talent flows between Canada and China. It is partially supported with the aid of grants of the International Development Research Centre, Ottawa and the Province of British Columbia.
To read the full report, click here.
About APF Canada
The Asia Pacific Foundation is an independent resource for Canadians on contemporary Asia and Canada-Asia relations. As a national not-for-profit organization established by an Act of the Federal Parliament in 1984, the Foundation brings together people and knowledge to provide the most current and comprehensive research, analysis and information on Asia and on Canada's transpacific relations. It promotes dialogue on economic, security, political and social issues, helping to inform public policy, the Canadian public and Canada’s Asia practitioners. The Foundation is funded principally through an endowment from the Government of Canada and by corporate and individual donors.
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