Going to work in Shanghai. Photo: Vincent Isore/IP3/Getty

Beijing is paying top dollar to woo star Chinese scientists back home to win the AI race and build a home-grown chip industry. But for the vast majority of foreign-educated graduates, finding work back in China is tough.

What's going on: The U.S. is making it harder for foreign university graduates to remain in the U.S., Axios' Stef Kight reported earlier. Meanwhile, Chinese students in the U.S. are increasingly choosing to go home after getting their diploma, despite the intense competition.

Here is what a recent Chinese returnee told me: "Right now, landing a good job in China is very, very difficult. The competition is more fierce than ever. There is a large number of Chinese students who graduate from prestigious universities or colleges every year, and having only the degree does not make you stand out. You also need prestigious internships, and a clear career direction." 

By the numbers: From 1978 — the dawn of the Deng era — till 2016, about 82% of Chinese studying abroad returned home, according to China's Ministry of Education.

  • But the percentage was far lower prior to the financial crash, which played a pivotal role in China's accelerated global rise, according to data from SixthTone.com, a Chinese news site.
  • In 2016 alone, 425,200 overseas students returned to China, an increase of 159,600, or 58%, over 2012, reports Sohu.com, a Chinese website.

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Trump tightens screws on ByteDance to sell Tiktok

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President Trump added more pressure Friday night on China-based TikTok parent ByteDance to exit the U.S., ordering it to divest all assets related to the U.S. operation of TikTok within 90 days.

Between the lines: The order means ByteDance must be wholly disentangled from TikTok in the U.S. by November. Trump had previously ordered TikTok banned if ByteDance hadn't struck a deal within 45 days. The new order likely means ByteDance has just another 45 days after that to fully close the deal, one White House source told Axios.

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  4. States: California passes 600,000 confirmed coronavirus cases.
  5. Cities: Coronavirus pandemic dims NYC's annual 9/11 Tribute in Light.
  6. Business: How small businesses got stiffed — Unemployment starts moving in the right direction.
  7. Politics: Biden signals fall strategy with new ads.

Harris: "Women are going to be a priority" in Biden administration

Sen. Kamala Harris at an event in Wilmington, Del. Photo: Drew Angerer/Getty Images

In her first sit-down interview since being named Joe Biden's running mate, Sen. Kamala Harris talked about what she'll do to fight for women if elected VP, and how the Democrats are thinking about voter turnout strategies ahead of November.

What they're saying: "In a Biden-Harris administration women are going to be a priority, understanding that women have many priorities and all of them must be acknowledged," Harris told The 19th*'s Errin Haines-Whack.