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China hopes to poach anti-Trump tech refugees

by on07 December 2016

Huge opportunity

China is hoping to take advantage of Donald “Prince of Orange” Trump's election and boost its tech output on foreign expertise.

According to CNBCleading tech entrepreneurs, including Robin Li, the billionaire CEO of Baidu Google, see Trump's plans as a huge potential opportunity to lure tech talent away from the United States.

China already offers incentives of up to $1 million as signing bonuses for those deemed "outstanding" and generous subsidies for start-ups.

LI said that Trump appeared to be worried that three quarters of US tech outfits are CEOed by Asians. Many entrepreneurs in Silicon Valley have expressed worries, especially after Trump's election, about the harm to the United States' capabilities in innovation.

Li hopes that these excellent talents from various countries will migrate to China and help China play a more important role on the stage of global innovation.

He added: "I hope everybody will come to China, let's innovate together."

Li said that the "global center of innovation is shifting" and China is the "biggest and fastest growing internet market".

"China's Silicon Valley" Shenzhen and has taken the lead in rolling out a massive subsidy program to attract high-tech talent. Shenzhen's recruitment program has attracted 1219 "high-level talents" as of last year of which 74 are "foreign experts".

Li said that in the past Chinese companies could only attract Chinese engineers who studied abroad but Trump's plans have created hope for China to attract "more and more talents from various countries and various nationalities."

Last modified on 07 December 2016
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