In addition to Chinese who prefer to remain in the country for work, China’s strong economy makes it a bigger draw as a place to relocate for a job than in the past. China is now the 20th most popular destination worldwide, according to survey respondents. That’s a rise from 2014, when China was number 29.

China’s overall attractiveness helped make its major cities more popular as well. In 2018, Beijing is the 41st most popular choice for people willing to move abroad for a job, compared with 67th in 2014, according to the survey.

Survey respondents most interested in moving to China come from several Southeast Asian regions, including Hong Kong, Singapore, Malaysia, Japan, and South Korea. Many of the estimated 50 million ethnic Chinese living outside China make their homes in those regions. The geographic proximity and, in some areas, shared ethnicity, language, and culture could make relocating for work easier for residents there. China is also a top destination for respondents from Pakistan, South Africa, Panama, Uzbekistan, and Australia.

Digitization and the Project 2035 initiative are expected to create up to 415 million digital-economy jobs by that year.

Becoming a Global Innovation Leader

The widespread digitization of business operations in multiple industries and the Chinese government’s Project 2035 initiative to become a global innovation leader are expected to create up to 415 million digital-economy jobs in the country by that year. (See Year 2035: 400 Million Job Opportunities in the Digital Age, BCG report, March 2017.)

The booming economy offers overseas Chinese willing to return home a faster career track than might be available to them elsewhere, one with more opportunities to advance quickly through the ranks into decision-making positions. It also offers them the chance to work for major Chinese companies such as Alibaba and Tencent, with their world-famous founders, and at digital-economy startups operating in one of the world’s most massive markets.

Such opportunities are a big draw. Chinese national Eric Li, 43, an IT executive, worked in the US and UK before moving back to Shanghai. Li, a participant in our survey, says that the primary reason he and his wife returned was to raise their children, now 5 and 10, closer to family. But he is happily taking advantage of the fast-changing economy. “China is a growing market, in particular for digitalization,” says Li, who runs digital solutions for a large facility management company.

Opportunities are also prompting more Chinese students who graduate from US universities to return home instead of staying to work in hot spots like Silicon Valley. The number of graduates returning to China after studying abroad has more than doubled since 2011, according to ICEF.

New government policies are encouraging work-related migration of overseas and ethnic Chinese. In early 2018, the Chinese government began offering visas that extend, from one year to five years, the time that people with Chinese ties can stay in the country for a job. The visas are open to children of current or former Chinese citizens and to people who were previously Chinese citizens. The government also recently began offering work visas for up to ten years to foreign-born scientists, entrepreneurs, and other highly skilled professionals.

We interviewed US journalist Scott Fagerstrom, 62, who moved to Beijing in 2017 for a job as an editor at an English-language newspaper, the kind of position that had been increasingly difficult to find at home as the US news business contracted on diminished advertising revenue. Fagerstrom says he enjoys the fast pace of his work and learning about a country that’s new to him. When he’s not working, he likes to hop on the high-speed train from Beijing to other parts of China, including Tianjin, which he calls “an old European settlement that I’ve fallen in love with.”

Competition for a Highly Skilled Workforce

The transition to a digital economy is creating competition for people with desirable skills. Job hunters with deep industry knowledge on top of digital skills are especially in demand. Jobs in sales, engineering, IT and technology, science, and research along with other positions requiring advanced skills or education are hardest to fill, likely reflecting a shortage of skilled labor at a time of rapid economic expansion.

Unlike employees in countries with mature economies, who tend to value work-life balance over other job factors, Chinese survey respondents cite career development and acquiring new skills as the most important elements of a job. The respondents are typically young, single, and in the early phase of their careers, which may partly explain their interest in career development. (See Exhibit 2.)