Though it's common knowledge now that many overseas Chinese students are returning home for career opportunities, the 35 Shanghai companies that went to the United States recently to recruit employees were surprised by the enthusiastic responses they received from the students.

Nearly 4,000 Chinese students turned out at the recruitment talks in San Francisco, New York and Chicago held by the companies, all coming from the Pudong New Area.

More than 2,500 students competed for the 238 positions available. In some cases, there were as many as 50 students competing for one position.

According to analysts, one reason why so many overseas Chinese students want to come back is that American hi-tech companies have been laying off employees in large numbers as a result of the slowdown in the U.S. economy.

But more importantly, Shanghai's rapidly developing economy, especially its prospering hi-tech sector, is offering attractive incentives to bring overseas students home.

Statistics show that up to now Shanghai has lured more than 25, 000 overseas Chinese students, accounting for 20 percent of all returned overseas students.

The returned students have registered to run more than 1,300 companies in Shanghai, with a registered capital of US$210 million.

In the first half of the year, 276 overseas students picked up jobs in Shanghai, up 80 percent from the same period of last year.

Since 1992, Shanghai municipal government has formulated a series of favorable policies that encourage overseas Chinese students to start careers in Shanghai.

(Xinhua News Agency 08/16/2001)