As societies internationalize, the demand for, and the value of, various goods and services increase. Individuals who possess new ideas, technologies and information that abets globalization become imbued with “transnational human capital,” making them more valuable to these societies. This report looks at this issue from five perspectives. First, it shows that China's education and employment system is now highly internationalized. Secondly, since even Chinese scholars sent by the government rely heavily on foreign funds to complete their studies, China is benefiting from foreign capital invested in the cohort of returnees. Thirdly, the report shows that foreign PhDs are worth more than domestic PhDs in terms of people's perceptions, technology transfer and in their ability to bring benefits to their universities. Finally, returnees in high tech zones, compared to people in the zones who had not been overseas, were more likely to be importing technology and capital, to feel that their skills were in great demand within society, and to be using that technology to target the domestic market.