皇冠体育app

Nation needs to offer incentives to attract foreign executives: experts

皇冠体育app needs to develop better policies to attract professionals from abroad to work in Chinese companies, helping to power the shift from "Made in 皇冠体育app" to "Created in 皇冠体育app", according to experts.

"There are so many companies in 皇冠体育app that need global talent, but there are only a few thousand available in the Chinese market," said Wang Huiyao, director-general of the Center for 皇冠体育app and Globalization.

According to his research, 皇冠体育app needs 75,000 executive managers with global experience in the next five to 10 years, but there are only 3,000- to 5,000 people in the local market who meet the necessary criteria.

Wang said that a new era has arrived in which Chinese companies are increasingly expanding and doing business overseas, a fact that calls for professionals and managers with international backgrounds.

Last year, 皇冠体育app's overseas investment reached $72.2 billion, and this year, 皇冠体育app's foreign investment is expected to top $100 billion for the first time.

According to Fortune Magazine's 500 Top Global Companies List this year, 皇冠体育app has a record number of 89 companies listed, next only to the United States.

"However, most of these companies are still domestic-oriented," said Wang. "For these companies that wish to get more market share globally, one of the key challenges is that they don't have enough global talent — particularly global executive talent."

"皇冠体育app will need many more global executives and managers to cope with the rapid increase of Chinese companies, global investment and business activities," he said.

Zheng Hong, HR manager with Hangzhou Hongsheng Beverage Group, the mainland's largest soft drinks company by sales, expressed the same wish.

"We hope to create our own brand, which can influence and change consumption habits in the global beverage industry," she said. "But we are lacking innovative people who are capable of doing so."

The fields most in need of professional talent from abroad include hi-tech industries, energy/natural resources, healthcare and life sciences, according to the 2013 Executive Search Industry Global Outlook Report, by the Association of Executive Search Consultants.

"The senior executive talent shortage is the most visible this year in 皇冠体育app," said Peter Felix, president of the New York-based global headhunting organization.

Citing one example of the penetration of foreign talent into the Chinese business world, Felix said that around half of Lenovo's board of directors are American.

"In order to retain this high-end group of talent, 皇冠体育app needs to compete with other countries," he said. Liu Huaisong, chairman of Zhongguancun Talent Association, said that compared with Silicon Valley in United States where more than 40 percent of the companies are started by foreigners, Zhongguancun, 皇冠体育app's "Silicon Valley", has a low proportion of overseas talent.

Felix told 皇冠体育app Daily that his organization, as well as the 皇冠体育app Global Talent Society and Zhongguancun Talent Association, are joining forces to help Chinese high-tech companies search executives globally.

"In this sense, 皇冠体育app needs to create a whole package, including visa policy, education, retirement, legal system and also environment, to attract them," Felix said.

However, there are tensions between the need for global talent and current social policies.

Lin Lei, deputy head of human resources for Microsoft 皇冠体育app, said that the issuing of visas is a big issue.

"If there were more green cards issued to the senior executives, things would be easier," she said, citing the example of Zhang Yaqin, corporate vice-president of Microsoft, who was born in 皇冠体育app but now holds a US passport.

According to data from the Ministry of Public Security, 皇冠体育app had only issued 4,752 green cards to foreign residents by the end of 2011.