China reduces threshold to attract more skilled migrants! Australia faces more competition in attracting skilled migrants!
A recent joint statement released by the Communist Party of China Central Committee Organization Department, the Ministry of Human Resources and Social Security and the State Administration of Foreign Experts Affairs has indicated a pursuit of overseas talent by a country that traditionally has a net emigration rate and suffers from brain drain as talents pursue employment overseas. China only makes up for 0.4% of the total immigrant population in the world according to 2013 data1. That means out of the total 231,522,200 migrants in the world, only 848,500 are in China. Australia records 2.8% (6,468,600) while Singapore (a country that consistently attracts overseas talent to settle and accumulate human capital) records 1.0% - 2,323,300 (impressive for a country with a population of only 5.4 million in 2013 and a country land size of 718 square kilometres). The announcement shows that China is looking to amass talented professionals and perhaps prepare for a predicted global workforce crisis according to this interesting article by the Boston Consulting Group (BCG).
According to the statement China will be looking to attract overseas talent by introducing preferential policies in visa applications, residence permits, settling in China as well as exit/entry convenience that was previously strict for overseas arrivals. More details will be provided by the authorities in the later part of the year.
Comments by Chris Johnston – Principal Lawyer and Registered Migration Agent at Work Visa Lawyers
The announcement made by the Chinese authorities basically means more competition for skilled workers in the region. According to the Department of Employment total employment for Australia is projected to increase by 838,100 (7.2 per cent) reaching 12,442,700 by November 20182. Net skilled migration is required to ensure the national workforce does not shrink to meet the expected demand.
To remain attractive for overseas skilled workers to settle in Australia, the Department of Immigration and Border Protection (DIBP) may need to consider its skilled migration policy settings and requirements, as well as further improve service standards for visa applications to be processed in a timely manner. A review of the temporary work visas are already underway as highlighted in our earlier article.
Source:
From the article - China further lowers threshold to attract overseas talent
http://www.chinadaily.com.cn/china/2015-01/25/content_19401866.htm
1. Trends in International Migrant Stock: The 2013 Revision
2. http://lmip.gov.au/default.aspx?LMIP/EmploymentProjections
This information is accurate on the 6 February 2015
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