The paper examines how the Chinese knowledge diaspora contributes to Peking University's endeavours to become a world-class university through an in-depth study of its implementation of the 111 Project. Based on the participants' personal experiences of international collaboration, the article finds that overseas Chinese scholars have played an invaluable role in linking Peking University to the international scholarly community. As well, they have constituted a key resource for its development, deploying their unique advantages, notably their familiarity with the research system and wider cultural dimensions of both milieus. Clearly, the vast size of the Chinese diaspora, its increasingly highly-skilled character, together with a strong and persistent sense of Chinese identity, provide a solid platform for international scientific collaboration. The virtually ubiquitous expressions of obligation to China constitute a major advantage for China's deployment of its knowledge diaspora in the service of the motherland. This paper delineates the key impediments that hinder full utilization of China's overseas academics. It concludes that despite some considerable achievements, the long-term effects of the 111 Project remain to be seen in the context of a complex global and internal situation. (Contains 4 notes and 3 tables.)