Increasing numbers of Chinese white-collar workers and students abroad are snapping up the bait offered to them by state-owned enterprises back home

The Fourth SOE Job Fair for Overseas Returnees, which opened on December 21 in Beijing at the prestigious Diaoyutai State Guesthouse, is helping to match these jobseekers with prospective employers.

Diaoyutai, whose name is Chinese for "Fishing Dock," was an appropriate choice of venue as 48 of China's largest SOEs dangled tempting employment packages in front of potential recruits. And the "fish" are more than happy to take the bait: just 500 of the 1,200 who applied to attend the week-long event were granted passes. Such leading SOEs as Sinopec, China National Petroleum and China Aerospace Science and Technology have 228 vacancies to fill, and they are rolling out the red carpet for white-collar workers returning to their homeland.

"I still prefer working in SOEs even though my present salary is higher," said 31-year-old Guo Fengliang, a manager with a Fortune 500 company in Australia. "China's promising economy and emerging business opportunities make SOEs pretty attractive."

The employers are equally optimistic about the recruits.

"Returned overseas executives and students are sought because of their foreign language competence and familiarity with international practices. This has special significance, as we are now entering a stage of overseas expansion," said Tang Zhen, a personnel recruiter from China Nonferrous Metal Mining & Construction (CNMC).

CNMC hired a financial specialist when it participated in last year's fair. "We are quite satisfied with his performance," Tang said.

Wang Xiaodong, director of the National Institute of Biological Science, is himself a returnee from abroad who came back to China in the early 1990s. He is thinking of hiring more returned scholars at the institute. "We can provide a competitive salary to candidates who demonstrate their productivity, creativity, and good communication skills," said Wang.

But salary is not the only attraction, or even a leading one, for some jobseekers.

"What attracts me most is China's robust economy," said Gao Jingyi, a student pursuing his postgraduate degree in Germany. "I am looking for a job that can enrich my practical skills as soon as possible. As to salary, 3,000 to 4,000 yuan (US$363 to 483) a month is acceptable since I am still a newcomer, without adequate work experience."

A recent survey by the China Youth Daily showed that 87.7 percent of Chinese students who study abroad will choose to come back to work or start businesses, of which 34.5 percent will return right after finishing their studies and 53.1 percent will come back after working for some years abroad.

Shanghai and Beijing are the two premier destinations for returnees as they offer the greatest business opportunities.

The ongoing fair is cosponsored by the State-owned Assets Supervision and Administration Commission and the Chinese Communist Youth League Central Committee.

(China Daily December 22, 2004)