Facing a stagnant economic situation overseas, more than 800,000 Chinese students have returned home in the past five years. And because of China’s increasingly crowded job market, half of the returnees chose to start their own business.
According to the North America Chinese Scholars International Exchange Center, half of the companies are in the IT industry, as it has more opportunities, start-up time is relatively quick, and costs are relatively low.
The biomedical field is popular, but successes account for only 20 percent. Many fail because of high start-up capital and the long time needed to see returns.
Others are in new energy and environmental protection industries.
Experts from the Ministry of Education say having advanced technology is not enough. Returnees often do not understand the domestic market demand. They also face financing difficulties.