This paper discusses the impact of the Chinese migrants on the economy of the People’s Republic of China and the hypothesis that the Chinese diaspora is a fundamental source of social capital instrumental in the economic development of the country has also been formulated. China’s economy has been developing both dynamically and steadily since the opening of the country’s borders in 1978. The specific kind of social capital in the form of the diaspora is one of the factors contributing to the development. The role of the Chinese diaspora has also been changing. Additional issues covered in the paper discuss the definition and geographical range of the diaspora, its characteristics and the PRC’s policy toward the migrants.