The Talent War [Associate Editor?s View]

In response to the "Thousand Talents Plan," a newly devised policy by the China Central Government to attract talent worldwide, local governments all over the country are eager to find candidates, especially established senior managers, technical experts, and full professors in developed countries. To encourage 2,000 highly talented Chinese students and expatriates to return from overseas in the coming five to ten years, the Thousand Talents Plan offers perks such as government subsidized medical care, housing, and income tax benefits, in addition to a relocation package of 1 million reminbi (US$146,000) per person. As of May 2010, the program had already recruited 662 people. However, a reverse brain drain is about to start, as the recent financial crisis has placed significant pressure on employers in developed countries to retain their talent. The timing could not be better for China. The talent war has just begun.