Tech, courier, recruiter keen on China
A1 It is a remarkable accomplishment for China to achieve its goal of building a moderately prosperous society. One hundred years ago, this nation was suffering from a turbulent social, economic and political environment. A century later, China is now the second-largest economy in the world with a life expectancy of over 76, roughly a 97 percent literacy rate and $10,000 GDP per capita.
From where I stand, I think there are three main factors that led to this exciting milestone: a safe and stable environment, a focus on innovation and a culture of resilience throughout Chinese history.
Having a safe and stable social and economic environment is fundamental to achieve nationwide accomplishments. The ongoing promotion of innovation has led to great improvements in efficiency across many different sectors. On top of that, the legacy of resilience in Chinese culture has existed for thousands of years, which empowers the Chinese people.
A2 China's ongoing efforts and commitment to deepening reforms and further opening-up continue to create a better business environment and more opportunities for foreign investors. As a leading global professional recruiting group, Hays is excited to provide our services to a broader range of clients in China.
We have benefited from China's major developments in life sciences and information technology. In recent years, our operations in China have shifted due to the rising influence of Chinese companies that grew from the reform and opening-up policies. Our records show that companies that fall under the umbrella of high-quality development, especially in healthcare, high-tech, new energy and smart manufacturing, have shown great demand for high-quality talent.
A3 I think the most attractive and promising aspect of the Chinese economic goals is the shift in mindset that comes along with the real economic and lifestyle changes.
In the 2021 Hays Asia Salary Guide, even though salaries stagnated over last year throughout most places in Asia, China sees the most optimistic salary increase among all regions, with 64 percent of companies increasing their salaries to varying degrees. Salary ranges of employee candidates in China are now one of the highest among our clients globally.
A4 The trends brought about by innovation, tapping productivity potential and modern governance are very promising. A specific new trend we see is the maturing of domestic companies in cutting-edge sectors, such as healthcare, high-tech, new energy and smart manufacturing.
Hays in China is rebalancing the ratio of international and domestic clients due to the rise of domestic companies. We now have a 50/50 ratio for international and domestic companies among our clients.
We have found that many domestic companies are robustly expanding their R&D teams and are now craving skilled and innovative talent.
A5 I think priority should be given to continued focus on high-quality development of the domestic economy and to boosting domestic demand, while also attracting foreign companies and investors by further opening up.
We see a great number of leading Chinese companies thrive and eventually go overseas. Some of our domestic clients have done this, which benefited multinational recruitment companies like Hays that provide them with services on a global scale.
