Bloomberg: Overseas Chinese engineers choose to return to China to promote the global expansion of Chinese companies
Bloomberg today published an article saying that many Chinese science and technology talents working in the United States tend to seize the opportunity to return to work in China, because in China today, venture capital is sufficient and the government is willing to provide financial incentives for cutting-edge research. The Chinese talents cultivated in the United States are becoming a key force driving the global expansion of Chinese companies, and China is also the backbone of the next generation of technologies such as artificial intelligence and machine learning. The following is the full text of the article: A few years ago, Wang Hao was still fighting for the American dream. He graduated from Princeton University, found a job at Google, and bought a spacious apartment in Silicon Valley. However, one day in 2011, he asked his wife to sit at the kitchen table and tell her that he wanted to move back to China. He was tired of working as a product manager in the search giant, and he had the urge to start a company in his hometown. Still, it is still not an easy task to persuade his wife to give up California and return to Shanghai. “We just discovered that she is pregnant,†recalls 37-year-old Wang Wei, who was back and forth in the apartment for a few hours. “We felt very upset a few weeks before the decision was made, but in the end she still came.†His bet has paid off: his English teaching application, "English fluency," was very popular. He raised $100 million last July, which has brought him to the list of successful alumni who are returning to Silicon Valley. The future will be even better. . From Facebook to Alphabet's Google Inc., the Silicon Valley giant is facing the loss of Chinese technology talent. Wang Hao's decision is a microcosm of this trend. The Chinese talents cultivated in the United States are becoming a key force driving the global expansion of Chinese companies, and China is also the backbone of the next generation of technologies such as artificial intelligence and machine learning. Chinese university graduates used to be famous overseas, work and foreign nationality. Now, many people tend to seize the opportunity to return to work because in China today, venture capital is sufficient and the government is willing to provide financial incentives for cutting-edge research. Number of overseas Chinese students returning to China “More and more talent is returning, because China does have a good momentum in innovation,†said Ken Qi, head of headhunting and technical practice at Spencer Stuart. “This is just the beginning. †For those who return to work after working or studying abroad for a long time, people call it "turtle" (the homonym of "sea return"). Despite the unparalleled status of the US technology giants, nowadays, serving local companies – from the Internet giant Tencent Holdings to the news giant headlines – can be envied. In the past, Baidu was only a Chinese search giant in people's minds. Other businesses were little known. Since Lu Qi, former executive vice president of Microsoft, joined Baidu in the artificial intelligence (AI) department, he has become the most eye-catching in recent years. Returnees. The sudden emergence of the Alibaba Group has become a catalyst for the return of overseas personnel. The e-commerce giant completed the world's largest initial public offering in the United States in 2014, driving the scale and innovation of domestic companies. Alibaba and Tencent are now among the top 10 most valuable companies in the world, alongside companies like Amazon and Facebook. China's venture capital competes with its American counterparts: three of the world's five most valuable startups are located in Beijing, not California. In 2017, a survey was launched by Think Tank China and Globalization Center and recruitment website Zhilian Recruitment, with 1821 people participating. The results show that technology has replaced finance and has become the biggest attraction for overseas returnees, accounting for 15.5% of the motivation to return to China, up 10% from the 2015 poll. Not everyone has chosen to give up Silicon Valley. According to a 2017 report by LinkedIn, 7.9% of the more than 850,000 artificial intelligence engineers in the United States are Chinese. Of course, it includes many Chinese who do not have strong links with the mainland, or those who are interested in working there. However, in the US AI field, the number of Chinese engineers is more than that of Chinese counterparts, although the former accounts for only 1.6% of the US population. However, finding overseas returnees has brought prosperity to the headhunting industry. In the immigration group of WeChat and Facebook, headhunters and engineers talk to each other and launch pictures. Lu Qi’s recruitment information is concise: If you have obtained permanent residency and no children or children are ready to go to college, you may wish to send your resume online. In the past three years, Jay Wu has hired more than 100 engineers for Chinese companies. The Silicon Valley headhunter Global Career Path partner has opened an online community for students before they become a professional headhunter. Right now he lives in San Francisco, using dozens of WeChat groups to mine clues. "If you want to pay close attention to what is happening in the circle, as well as broadcast offline activities, WeChat is a very good channel," he said. As a graduate of the University of California at Berkeley, Jay Wu has held recruitment events for Alibaba Group, JD.com and Ctrip. It is not easy to dig up the technicians of Cupertino or Mountain View to Beijing. However, the technology giant here has three magic weapons: fast-growing wages, opportunities, and a feeling of home. Shenzhen Happybate Trading Co.,LTD , https://www.happybateprojectors.com