Wuxi – a driving force for innovative, talent economy

Aiming to build an "Oriental Silicon Valley", Wuxi stipulates broader visions

A Western Returned Scholars Association (WRSA) seminar was held in Wuxi, on April 22, to discuss future development of the Wuxi returned scholars entrepreneurship base and attracting overseas-educated scholars as well as foreign talents to work and settle in the city.

The seminar was hosted by Xu Suining, vice secretary-general at the WRSA, which had over 70 representatives visiting Wuxi this time to study how the Wuxi base developed over the past few months, and exchange views on how to attract high-skilled talents.

Chen Derong, member of Wuxi's standing committee told the seminar that the government had announced substantial incentives to attract overseas returnees, providing favorable conditions for them, including business start-ups.

Through setting up the Wuxi returned scholars entrepreneurship base in July 2014, the city strives to improve Wuxi's advantageous aspects in service, policies and environment for prospective talents.

Meanwhile, he also said the Wuxi base would increase communication with the WRSA as well as returned scholars entrepreneurship bases in other cities, and seeks to establish contacts with overseas student organizations in a heightened effort to build the city into a highland of entrepreneurship, talents and high-tech industry development.

Wuxi has been a pioneer in establishing a talent development and training strategy, introducing the "530 Plan", which envisaged bringing in 30 overseas talents over five years, in April, 2006. So far, its New District has recruited several leading talents, including two venture teams, whose members won Nobel Prizes. Most of the overseas talents entrepreneurship programs specialize in emerging industries such as micro-sensor, software and service outsourcing, biomedical, new energy and material developing and the IC design.

China is currently witnessing a new booming generation of overseas-educated graduates returning to the country, by helping found leading technology firms such as Baidu and contributing to China becoming a big player in leading technological and other fields and strengthening its links with global economy.

Chinese President Xi Jinping also praised the contributions of overseas-educated talents to "realizing the Chinese dream of national rejuvenation", during a speech at the centennial of the Western Returned Scholars Association, a grouping of overseas returned scholars, which was founded in 1913 in Beijing. He also called on returning talents to continue to play a vital role in promoting the country's transformation into an innovation-driven economy in the next three decades.