Tashkent, Uzbekistan (UzDaily.com) -- The Chinese economic miracle has become a phenomenon that has turned the country into an economic superpower. Not the last role in this was played and continues to be played by the overseas Chinese diaspora, which has been formed over the centuries and currently numbers, according to various sources, from 50 to 60 million people in 198 countries and regions of the world.

If during the period of economic power formation since the 1980s, people from China acted as key investors in the country, now they are often the conductors of the "Belt and Road" in Southeast Asia.

Chinese emigrants continue to be significant contributor to foreign investment in China to this day.

To this end, the Chinese government has taken a series of measures in recent years to expand the number of industries open to foreign direct investment. These are predominantly manufacturing industries, especially high-tech areas.

The government removes many restrictions on foreign investment and actively uses the mechanism of pilot free trade zones.

In addition, China has an extensive, active network to attract the potential of overseas Chinese around the world.

For example, the Department of Overseas Chinese Affairs creates platforms for coordination, negotiation and cooperation between overseas Chinese businessmen and domestic enterprises. As part of the platforms, the department conducts many activities aimed at attracting capital from Chinese emigrants. Among them are China Overseas Enterprise Development Fair, China Overseas Industrial Fair, Science, Technology and Innovation Cooperation Fair.

The Overseas Chinese Entrepreneurs’ Association also specializes in organizing overseas China Entrepreneurship Fairs in order to use the opportunities of migrants to develop China.

The Chinese government holds major exhibitions such as China International Import Expo, Service Trade Fair and Consumer Expo. Such events are an international platform for the discovery and cooperation of global companies. Chinese businessmen and overseas Chinese companies are also actively participating in these exhibitions, promoting their brands and activating ways to enter the Chinese market.

It should be noted that in China there is a steady trend of annual growth in the number of Chinese leaving to study abroad. On the other hand, the number of holders of diplomas and academic degrees returning to China is also growing. In 2021, over a million Chinese graduates returned home, up from 777,000 in 2019.

A growing economy and the creation of new job opportunities in areas such as science and technology, economics, education and public administration make returning graduates to their home countries increasingly attractive.

Uzbekistan needs to carefully study China’s best practices in attracting compatriots, since the potential of the Uzbek foreign diaspora is also high.