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China has become the third largest destination for overseas students after the U.S. and the U.K., according to a report released by a Chinese think tank.

The Centre for China and Globalization and the Social Academic Press co- published the Annual Report on the Development of Chinese Students Studying Abroad (2015). The report indicates that the U.S. receives 20 per cent of global overseas students, making it the top destination for international students, followed by the U.K. (11 per cent), China (8 per cent), France, Germany, Australia, Canada and Japan.

The report illustrates that China has distinguished itself as the world's number one source of overseas students. A total of 459,800 Chinese studied abroad in 2014. Chinese have made 3.52 million studies in overseas areas from 1978 to 2014.

Analyzing academic subjects chosen by Chinese students in the U.S., the U.K. and Canada, people can see that business administration, engineering and mathematics and computer science are the top three majors, followed by social science, medicine, life sciences and arts and applied arts.

In terms of the top academic subjects for Chinese students abroad, business is losing its edge while the appeal of international relations is growing, according to the report.

The report shows that 62 per cent of Chinese students studying abroad return to China three years after graduation.