China’s National Talent Plan: Key Measures and Objectives

Abstract

China has undergone enormous economic changes in the past 30 years and now faces important decisions as it considers how best to sustain this unprecedented level of growth. China’s population is aging rapidly and the 225 million migrant workers who have fueled China’s economic miracle for the past three decades are now demanding better payment for their work. Further complicating the situation are the growing numbers of college graduates entering the job market: according to the Chinese government, China will have 195 million college-educated people by 2020. In response to these and other policy challenges, the Chinese leadership recently launched a major national talent development plan intended to attract and retain highly skilled individuals in six broad sectors of the economy. This new plan has far-reaching implications for China’s efforts to build an innovation-driven economy by 2020 and offers valuable insights for the global business and policy communities.