China is embracing a massive influx of returnees, as a growing number of overseas-educated graduates return to the country to seek job opportunities, a recent report found.
Emerging new first-tier cities have gradually become popular destinations for returnees, holding increasing appeal, according to the report released by business networking website LinkedIn.
The report said that while Shanghai and Beijing take the top two spots on the popular cities ranking list, they are gradually losing their appeal.
Hangzhou in Zhejiang, home to e-commerce giant Alibaba Group and a branch of Chinese leading gaming outfit NetEase Inc, ranked fifth on the most attractive cities list, followed by Chengdu in Sichuan and Nanjing in Jiangsu.
Perceiving talent to be the major driver for innovation and economic growth, a wide range of Chinese cities, especially new first-tier cities, have rolled out favorable policies, such as offering housing allowances.
The move is also in line with the call for a balanced development pattern for economic growth across the nation.
The LinkedIn report shows 20% of returnees chose to work in finance in 2017, making it the most attractive industry among job seekers returning from overseas. The high-tech sector ranked in second place, attracting 13.1% of returnees last year.