Domesticating ‘transnational cultural capital’ : the Chinese state and diasporic technopreneur returnees

Abstract

With China’s ongoing transition from a labour-intensive economy to a knowledge-driven one, the state has vigorously promoted diasporic Chinese technopreneur returnees as a new dynamic force for the nation’s economic development. This article examines the technopreneurs’ interactions with the state, focusing on how the government has orientated and structured them into the state’s national and globalisation agendas. We argue that the acquisition of political capital by the technopreneurs is a critical factor to successfully convert transnational cultural capital into economic capital. We also analyse the mechanisms and limitations of the top-down relationship between the state and diasporic technopreneur returnees. The conclusion section discusses the theoretical implications of the Chinese experiences for transnationalism, which has been largely examined from the perspective of immigrants’ transnationality with respect to their original society, and calls for a reversed analytical perspective and consequent focus on diaspora returnees’ transnational practice and cultural capital.