Overseas Chinese caused from the history of Chinese migration to abroad have a great economic power and global networks in and around Chinese economic bloc. On the strength of China’s active retuned overseas Chinese policies, overseas Chinese returned to China steadily so that the number of retuned overseas Chinese including their families reached 30millions at the end of 2009. This study analyzed the characteristics of the returned overseas Chinese policy focusing on overseas Chinese’s return and settlement problems. According to the result of the research, by legislating the Law of the People’s Republic of China on the Protection of the Rights and Interests of Returned Overseas Chinese and the Family Members of Overseas Chinese, China provided a legal basis for overseas Chinese and their family members to return and settle down, and guaranteed their political rights and encouraged their political participation. In addition, China helps them to settle down stably through guaranteeing the social welfare rights of returned overseas Chinese, and is promoting overseas Chinese policies by constructing more systematic policy operating systems. Thus the returned overseas Chinese and their family members embrace overseas Chinese living in abroad and then reinforce the centripetal force to the homeland.