Chinese professionals are abandoning Silicon Valley as the latter is gradually losing its charm to foreign staff, Chinese news site yicai.com reported on Monday.
“Obviously China has larger market and more opportunities,” said Chen Yuemeng, founder of a Shanghai-based start-up company who worked in Silicon Valley for 10 years before returning to China in 2013.
Silicon Valley was once the dreamland for Chinese tech professionals. However, in recent years, the rapid development of science and technology in China has brought tremendous changes to the domestic business environment, consumer market, and demand for technical personnel. China is quickening its pace to catch up with the United States, and even take the lead in the development of artificial intelligence, e-commerce, and mobile payment.