China Is Hoovering Up a Lot of the World’s Tech Talent

Copious VC funding and generous government support are tempting Chinese nationals and foreign students to work or learn in China.

Homeward bound: Chinese nationals who studied overseas, many of whom went through college in the U.S., are heading back to China. Limits to career advancement in the West often seem to motivate the move.

Attracting new talent: China is now the third most popular destination for people choosing to study overseas. The majority of students head to China from South Korea, with the U.S. being the next biggest source. According to Axios, China will overtake the U.K. and become the second most popular country later this year.

Incentives on offer: A report by PwC and CB Insights says Asia is close to surpassing North America in VC funding—raising $70.8 billion in 2017. versus North America’s $74 billion. That, combined with the Chinese government’s support of emerging technologies, makes it an attractive base for young tech stars.

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