The Influence of the Overseas Chinese on the Economic Development of the PRC

Abstract

The article is devoted to assessing the contribution of the Chinese diaspora to the economic development of the PRC from the moment of its formation in 1949 to the present. The author proves that the state was the initiator of the “PRC – diaspora” relations from the very beginning. For more than 70 years, the country has managed to develop and successfully implement its diaspora policy. In turn, the overseas Chinese, due to their patriotic feelings, caring for relatives in the PRC, as well as pragmatic interests, provided China with significant assistance in the form of investments, technologies, donations, and promotion of the Chinese projects and initiatives abroad. The author studied the materials of the XX Congress of the CPC (October 2022) and the two sessions held in March 2023 (the session of the NPC and the CPPCC), analyzed a number of interviews of representatives of the Chinese diaspora, who closely followed the course of these events, and concluded that the interest of the overseas Chinese in the PRC is now very high. Representatives of the business circles of the Chinese diaspora see the new opportunities provided by China, and, what is of fundamental importance, are confident in its chances of success in today’s international realities.

Keywords

• prc
• chinese diaspora (overseas chinese – huaqiao-huaren)
• chinese emigrants (huaqiao)
• investment
• remittances
• overseas affairs policy