Haigui, or those returning to China from abroad, are sought after in a job market where international experience or qualifications make a candidate valuable in the development of hi-tech industry.
Zhejiang's provincial government has implemented policies to attract overseas Chinese students.
The Hangzhou local government has been the driving force behind the Hangzhou Overseas Students' Pioneer Park - a special zone dedicated to attracting returning talent. It is located within the Hangzhou Hi-tech Industry Development Zone.
The park focuses on innovative technology, and research and development in the technology field, and is set to be finished by October next year. Overseas returnees are offered incentives to set up enterprises within the business park. For returnees in possession of a recognised local master's degree or qualifications from overseas, venture capital funding can reach 10 million yuan (HK$12.04 million). Rent subsidies are offered to approved applicants who settle in the business centre, with office space of 100 square metres rent free for the first year and at subsidised rates in subsequent years. Tax discounts may apply, and seed funds and low-interest payments are also expected to be available.
The Industrial Park for High-level Overseas Returned Talent in Yuhang, Hangzhou, is also attracting haigui. Working with Zhejiang university, it aims to establish a hub at the university for returning professionals and to attract skilled staff to teach at the university. Up to 6 million yuan have been reserved for research grants for the first three years.
