Beijing opens up headhunting market

Beijing’s recruitment market is to be opened wider to investment from foreign headhunters, as part of efforts to attract more overseas talent to the city, authorities said on Tuesday.

Foreign talent agencies can now own up to 70 percent in a joint venture registered in the Chinese capital, up from 49 percent previously, according to Chen Bei, a spokeswoman for the city’s Human Resources and Social Security Bureau.

A requirement that foreign investors have at least three years of experience in the recruitment industry overseas before entering the Beijing market has also been removed.

“This is the most open policy in China’s headhunting market and will bring benefits to both foreign investors and Chinese companies that are short on senior talent,” Chen said.