4 Essential Elements For Returnees To Return To Business

According to the United States' World Journal, the three Chinese Entrepreneurs Association (OCEAN), the United States and China Biological Medicine Association (CABA) and the new China Association of information networks (NECINA) in August 30th organized the "2008 Chinese American Business Development Forum" at Massachusetts Institute of Technology.

Zhang Qun, director of the Beijing science and Technology Park's Washington liaison office, told the conference how to set up a company and develop business in China, and many returnees entrepreneurs shared the experience of Chinese entrepreneurship in the forum and dozens of participants in Zhongguancun.

Zhang Qun stressed that to succeed in returning to business, there must be four conditions: to have advanced technology and pay attention to the protection of intellectual property rights; to have funds activated by projects, or at least 500 thousand yuan of registered capital to apply for state project funds, and to find a venture capital fund.

Zhang Qun also introduced the investment environment in Zhongguancun. He pointed out that Zhongguancun was the first technology park approved by the State Council in 1988 and the largest technology park in China.

Zhongguancun is the most abundant science and Technology Park, with 40 key universities and more than two hundred state-level scientific research institutes.

Zhang Qun stressed that the proportion of returned overseas students in China is quite high. According to the data, 80% of the principals directly under the Ministry of education in China are returnees; 70% of the mainland's key scientific research subjects are returnees; 70% of the academicians of the Chinese Academy of Sciences and the Chinese Academy of Engineering are returnees.

In addition, 50% of China's NASDAQ listed companies are returnees, so returnees have indeed become a new force in China's economic development.

Zhang Qun also reminded everyone of several issues that must be paid attention to in returning home to start an undertaking, including: to understand the national conditions in depth; to know their core competitiveness; to thoroughly study the market; to pay attention to the protection of intellectual property rights, and to pay attention to the intellectual property rights of the legitimate original work units.

He also pointed out that we should pay attention to the ownership structure when establishing a company and not lose the dominant position in refinancing.

Zhang Qun stressed that returnees should not have a sense of superiority and remind everyone to take good care of their families while undertaking business.

After the speech, the audience raised the question of "33 sessions" in Zhongguancun. Zhang Qun explained that the so-called "33 meeting" is the Zhongguancun science and Technology Park, each of the established parks in turn. In the third week of each month, three projects of overseas students' pioneering enterprises were introduced to the society, and it was launched by Zhongguancun science and Technology Park overseas student service headquarters, which is an important measure to assist overseas students to start their own business financing.

There were also questions raised by listeners about returning home to start their own businesses and their children's schooling.

Zhang Qun explained that it is indeed a big problem for children to return to their household registration after returning home, especially for more than one child.

Many returnees choose to attend international schools to solve their children's school problems.

In addition, the participants suggested that it would be more difficult for US citizens to return to mainland China.

Zhang Qun explained that if it can prove that before returning to China to go abroad, it would be a Chinese citizen and graduate from a key university in the mainland.

However, it is rather difficult for US citizens to acquire key scientific research projects in mainland China.

But at present, the government is actively studying, hoping to give returnees who are citizens of the United States "green channel".