Posts tagged ‘Overseas Chinese’

11/06/2014

China targets officials who sent families abroad

China’s anti-graft campaign is now targeting officials who have sent their spouses and children abroad, where they can create channels to potentially funnel illicit gains and establish footholds for eventual escape from the mainland.

Nearly 900, mostly mid-level, government officials in the southern province of Guangdong have been demoted or forced to resign or retire early after being identified as having spouses or offspring with permanent residency or citizenship abroad while they themselves continue to work on the mainland. Because they remain without their families, they are known colloquially as “naked officials” – a term popular with the public because of its mocking tone. It is the first time a provincial government has taken action against them. The move signals a new approach in President Xi Jinping‘s anti-corruption campaign that takes aim at a phenomenon in Chinese politics that has hindered the Communist Party’s efforts to curb the flight of crooked officials and their ill-gotten assets. “The perception among the Chinese public is that these officials use their positions for their personal gains, then they send their families away and when the time comes, they are going to bail,” said Dali Yang, a China expert at the University of Chicago. Guangdong authorities said they found more than 1,000 such officials, among whom about a fifth had promised to try to get their families to return to China.

Though it’s up for debate, the general definition of “naked officials” excludes officials whose children are only studying abroad but not holding foreign residency or passports – allowing the sons and daughters of top leaders to pursue expensive college degrees at top overseas universities.

via China targets officials who sent families abroad.

11/01/2014

China parents count cost of sending children to overseas universities – FT.com

Jack Ma, one of China’s best-known entrepreneurs, thinks business success in China has nothing to do with prestigious foreign degrees: “When you want to judge whether a person . . . is excellent or not don’t look at whether they went to Harvard or Stanford,” he is famous for saying.

More and more Chinese parents apparently disagree with the co-founder of internet company Alibaba: they are increasingly spending three or four years’ annual family income to send their only child for foreign study. Some are now asking whether it is worth the investment.

The number of Chinese studying overseas has more than tripled in the past decade and continues to shoot up. The rise has been particularly dramatic among lower-middle-class families: according to a report from the Chinese Academy of Social Sciences, up to the end of 2009 students from such families made up only 2 per cent of all those who studied overseas, but by the end of 2010 the proportion had risen to 34 per cent.

For many Chinese families with children overseas, money is no object. But many lower middle-class and working-class families are counting on their only child to support them in their old age.

Foreign universities also increasingly rely on fees from Chinese students to ​boost their income. But is it worth spending Rmb1m-2m ($165,000-$330,00) on preparing for and completing an overseas degree, only to return to a job market where seven million graduates cannot find jobs?

According to Chinese recruitment agencies and human resources professionals, people who have studied overseas – known as “haigui”, or sea turtles, because they have one foot on land and one in the sea – command little if any salary premium when they start entry-level jobs back in China.

via China parents count cost of sending children to overseas universities – FT.com.

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16/04/2013

* Central authority fails to face up to surge in emigration

Given that China has 1.3 billion people and there are over 1 million millionaires – according to Huran survey, does it matter that some successful people are emigrating? All it will do is open the way for the ‘next level’ to step up and be successful too.

See – http://business.financialpost.com/2012/08/01/meet-the-average-chinese-millionaire-39-plays-golf-and-owns-an-ipad/

01/03/2013

* Returning overseas students on the rise

China Daily: “China has seen a surge in the number of students returning to the country after studying overseas, the Ministry of Education said on Thursday.

English: Zhang Yesui(Chinese Ambassador to the...

English: Zhang Yesui(Chinese Ambassador to the United States), his wife and Chinese overseas student in America 中文: 张业遂(中国驻美大使)夫妇与中国留学生 (Photo credit: Wikipedia)

More than 272,000 people returned last year, 86,700 more than in 2011, a 46 percent increase, according to the authority.

At the same time, 399,600 students went abroad, up 17.65 percent.

The country is actively encouraging students to return home after studying overseas, Zhang Xiuqin, director of the Ministry of Education’s department of international cooperation and exchanges, said at a news conference on Thursday.

“The ministry holds entrepreneur competitions and encourages enterprises to hire talent from overseas,” she said. “The ultimate goal is to attract more and avoid a brain drain, which is a global problem.”

According to the ministry, of the 2.64 million students who have gone abroad since 1978, 1.09 million — about two-fifths — have returned.

However, Zhang said the number of returnees has risen year-on-year.

The latest annual report on the development of Chinese studying abroad, which was compiled by the Center for China and Globalization and Mycos, an independent consulting firm, said that in 2011 the return rate reached 36.5 percent.

The report found that more overseas students are willing to return. The top two reasons are more economic opportunities and career development.”

via Returning overseas students on the rise |Society |chinadaily.com.cn.

15/06/2012

* Arrested spy compromised China’s U.S. espionage network

Reuters: “A Chinese state-security official arrested this year on allegations of spying for Washington is suspected to have compromised some of China’s U.S. agents in a major setback that angered President Hu Jintao, sources said.

Hu personally intervened this year, ordering an investigation into the case after the Ministry of State Security arrested one of its own officials for passing information to the Americans, two sources with direct knowledge of the matter said.

The official, an aide to a vice minister, was taken into custody sometime between January and March after the ministry became alarmed last year over repeated incidents of Chinese agents being compromised in the United States, they said.

Seal of the C.I.A. - Central Intelligence Agen...

Seal of the C.I.A. of the United States Gov’t (Photo credit: Wikipedia)

The ministry’s own investigations found the aide had been working for the Central Intelligence Agency (CIA) for years, divulging information about China’s overseas spy network in the nation’s worst espionage scandal for two decades, they added.

The sources’ comments represent the first confirmation that overseas Chinese espionage was deemed to have been damaged by the security breach, which has been kept quiet by both Beijing and Washington. Reuters first reported it on June 1.”

via Exclusive: Arrested spy compromised China’s U.S. espionage network: sources | Reuters.

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