China plans to reverse brain drain with star salaries
China plans to offer star salaries and preferential treatment to stem the brain drain that has proved one of the most formidable challenges to the economy over the past two decades.
The increased competition that entry into the World Trade Organization will bring puts the government under even more pressure to lure back Chinese studying at foreign universities, the China Daily reported.
The good news was that the slowing world economy may make it easier to persuade talented young people to return to China upon graduation, the paper said, citing Minister of Personnel Zhang Xuezhong.
"China ought to seize the opportunity to encourage more overseas Chinese with genuine ability and learning to come back and run high-tech enterprises," Zhang said.
China has so far not been very successful in attracting well-educated people after they completed their studies.
About 400,000 Chinese have studied abroad since 1978, and only 130,000 have returned, according to official statistics.
Apart from above-average salaries, China also plans to lure talented people with preferential treatment such as free entry and exit to and from China, and better service for those who want to set up their own companies.
The government also intends to create more positions for post-doctoral research at universities and research institutes throughout the country, the paper said.