China’s high demand for global talent
China’s job market remains stable, despite the million job losses since 2008 due to economy crisis. But today the urban situation has stabilized and this year it will become even more stable. In just the three months of 2016, more than 3.18 million new jobs were created. The government had previously declared that 1.8 million steel workers and energy industry employees may lose their jobs as a result of excess capacity. China’s economy is slowing down, but it is still growing from last year, with the GDP growing 6,7% year on year reaching 15,9 trillion Yuan (~$2.4 trillion). And because the government wants to rejuvenate the economic growth, China is in big need for global talent, especially in high-end technical fields.
Global talents needed
As China has upgraded its manufacturing sector, the need of veteran technical engineers and workers with working experience has increased. Job seekers are scanning for new opportunities, and most of them are engineers in the manufacturing sector. The phone lines are red hot at the largest professional networking platform LinkedIn, China’s office.
Cecilia Wang, the head of LinkedIn Think Tank declared that talented technicians are urgently needed to upgrade the manufacturing sector in China.
Now China is slowly turning from a low-end producer into a manufacturing giant. To achieve that, three types of talents are needed. First of all, there is a significant need for technicians with state-of-the-art technology. Secondly, there is also a need for well-educated engineers and factory workers. And thirdly, the most needed talents at the moment, is one’s versatility. Many industries are undergoing integration and upgrading. As a result, companies are eager to recruit experienced professionals from different career sectors.
China’s manufacturing factories that are struggling with oversupply, fierce competition, and weak demand will be a thing of the past. The government’s ten-year National Plan (the “Made in China 2025”) is defining the country’s upgrade of the manufacturing sector. And some areas listed there pose a great potential.
A new industry in China
Most of the semiconductors China purchases are imported. In fact, more than 90%, which is 56.6 % of the global semiconductor consumption. Now these semiconductors are imported from South Korea, Taiwan, Japan, and the United States. China spends more money to purchase semiconductors than it does on oil. But this is about to change. For the next decade, China will invest 1 trillion Yuan ($160 billion) in the domestic semiconductor industry. The goal for China to become a global power in the semiconductor sector, and to achieve it, China needs excellent engineers and other experienced professionals in this field.
The Chinese government is committed to developing this domestic semiconductor industry and will offer tax incentives and significant capital to producers. This means that the manufacturers will compensate its experts accordingly with their level of knowledge and experience.
Essential facts of opportunities for expats
China has long become the world’s biggest economy. So it should come not as a surprise for you that more than 7000 expatriates have ranked China as the best work destination in the world (ahead of Singapore and Germany).
Many multinational companies have relocated to China. In addition to this, a lot of other businesses have moved or are going to move their headquarters to China. Sectors like financial and banking services, legal and accounting open up further, the demand for foreign talents continues, especially for those who have relevant work and language skills.
Chinas economy is booming, and this has made it the largest job provider. Many foreign workers are highly qualified and have specialized jobs. And even if they come to China, they work in foreign companies rather than in companies owned 100% by China. To have a general idea about this, around 85% of expats employed in China are working for international companies, mostly in marketing and sales, closely followed by financial and banking services and engineering.
If you want to come work in China, you can either search and apply for a job on specialized recruitment websites, or you can directly search for companies that have offices in China and send them an email (but most of the time your CV will end up in the Spam section).
If you think you are excellent in a particular field, and you want to change the world, it’s time to come to China and fulfill your dreams. Good luck!
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