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| Sara Hsu |
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| Zhang Juwei |
Central government jobs are often described as a "golden rice bowl" for their stable income and generous benefits. Officialdom can also lead to membership of the Chinese Communist Party -- a status symbol in China.
But with only 19,000 jobs available, ... chances of a civil service career are slim. The exam (of this year) attracted record numbers of applicants, with 1.52 million completing the online registration process up from 30,000 in 2001.
When China's economy first opened up 30 years ago, going into private business or commerce was seen as the best way to get ahead. But the civil service first began attracting huge numbers of applicants a decade ago, said Zhang Juwei, a researcher at the Chinese Academy of Social Sciences' Institute of Population and Labor Economics."The private sector in China is not very well structured or developed like the U.S.," he said.
More at CNN."Most of the people in private companies in China, unless their positions are high, they usually don't pay well or have a clear career ladder to move up."
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| Ben Cavender |
Ma has been pushing since 2015 to increase U.S. sales to China on Alibaba. But getting one million American brands onto its platforms would require a 142-fold increase in business.
Realistically, what will likely happen is Mom and Pop stores will set up e-commerce stores on Alibaba as a side business to tap into the China market, says Ben Cavender, director with China Market Research Group.
"I don't see a lot of job creation happening," Cavender said.
While Ma did not present any concrete plans for job creation, his meeting with Trump was a good "lobby photo opp," says Duncan Clark, chairman of consultancy firm BDA China and author of "Alibaba: The House That Jack Ma Built".
It could also be seen as a way to curry favor with U.S. regulators. The U.S. Trade Representative put Taobao back on its "notorious markets" list last month, citing an "unacceptably high" level of fake goods.
Analysts say sophisticated, middle class Chinese consumers have a growing appetite for foreign goods that are more trustworthy than Asian products. Small U.S. companies that specialize in nutrition, supplements, and baby products should do well on Alibaba's platforms, said Cavender.More at CNN.
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| Sara Hsu |
Education Minister Yuan Guiren encouraged graduates to find jobs in the services and commercial agriculture sectors, especially in second and third tier cities. Xu Hongcai, assistant to the financial minister, promised tax breaks to college graduates who start their own businesses. Vice Minister of Science and Technology, Cao Jianlin, stated that Guangdong province will provide 2.5 billion RMB ($403 million) to science and technology start-ups, and that Zhejiang province will allocation 100 million RMB for these types of startups. Human Resources and Social Security Minister Yin Weimin said the government will provide business start-up subsidies to individuals on student loans.
Many college students were able to find a job in 2014, a considerable improvement from 2011, but the job market for new graduates has now become far more competitive in first and second tier cities. Age limits for hiring of graduates have made competition for jobs even more heated in some first-tier cities. About 3 percent of college graduates chose to start their own businesses in 2014, which was more than in previous years, but is still a low number.
Still, the lure of starting a new business is enticing, especially in the internet industry. E-commerce start-ups are hot right now, with electronic payment platforms quite of the moment. The success of internet giants Alibaba and JD.com, coupled with the stock market boom, has attracted new Internet start-ups to the industry. Premier Li Keqiang’s concept of “Internet plus,” linking online ventures to offline businesses in the manufacturing industry, has underscored the leadership’s interest in moving up the value chain. College graduates, particularly those with one or more years of experience, are encouraged to enter this industry.
No matter what specific jobs graduates choose, creating jobs in high-skilled sectors is essential to ensuring employment for China’s graduating students. Educated young people are loath to work in manufacturing jobs, but mismatches often exist between students’ skills and existing jobs. Academic universities do not necessarily produce graduates with technical skills. This is why some traditional universities are being converted into polytechnic schools...
Although college graduates may choose to start their own businesses, it is probably wiser to generate more high-skilled jobs in which graduates can first gain experience. The pressing need for economic restructuring will not be staved off by policies encouraging youth entrepreneurship. More substantive policies should transform the manufacturing and services sectors to bring new graduates into higher value-added positions.More in the Diplomat.
Shanghai-based business executive Shaun Rein gets many requests from people in the US, who are desperately looking for jobs in China. But a booming economy does not mean that jobs are easily available for foreigners coming to China, he tells in CNBC.
There are, however, serious downsides to working in China to think about before heading over. Unlike several years ago, being able to speak English or having overseas work experience does not automatically give you an advantage. Nearly one million Chinese have studied abroad in the last three decades. Almost 30 percent have returned to China in recent years because of job opportunities and daunting U.S. work visa policies. Nearly 80 percent of my firm’s recent hires in the past two years studied in America and the United Kingdom. Companies often prefer to hire these returnees because they can move with ease between Chinese and Western business environments. Given this pool of qualified Chinese, foreign job seekers have to work harder to prove their value. The Chinese government is also making it difficult for foreigners to get visas unless they have demonstrated expertise in sectors like finance and IT. Foreigners lucky enough to find jobs should also expect lower salaries than what they get at home. Even before the financial crisis, companies began phasing out expatriate packages with cars, chauffeurs and housing allowances - except for the most senior executives. Expats should expect to be paid a fraction of their salary back home until they can prove that they add value to the China operations.Shaun Rein is a speaker at the China Speakers Bureau. Do you need him at your meeting or conference? Do get in touch.
