Despite recent global challenges, such as the Covid-19 pandemic and its lasting economic impact, many global organizations have revealed plans to expand into China—specifically Shanghai—due to its durability, sustained demand, and improved business environment, particularly in the technology and manufacturing industries.
As a result, China has experienced notable growth in the job market, with an estimated 5 million new jobs being created each year. Research shows that some of the most sought-after jobs in China include executive-level roles in multinational companies throughout differing industries. Interest in the country is growing not only for decision makers and investors of companies, but also with candidates and job seekers. The diverse new opportunities have encouraged a peak in interest from international candidates and executives looking to diversify their career portfolios.
“Many global organizations have revealed plans to expand into China—specifically Shanghai—due to its durability, sustained demand, and improved business environment, particularly in the technology and manufacturing industries… As a result China has experienced notable growth in the job market, with an estimated 5 million new jobs being created each year.”
Market Developments
As recently as September, multinational tech company Merck & Co. opened its Electronics Technology Center China (ETCC) in Shanghai, with an initial investment of 29.1M USD. The company also announced the completion of a new production facility in Shanghai, with an initial investment of 9.8M EUR.
British company Dyson, headquartered in Singapore, has expressed firm belief in both Shanghai and China markets to help in doubling its product portfolio by 2025. Derek Ng, Vice President of Dyson China confirmed the company’s plans to invest 120M USD in R&D, with a focus on increasing the amount of skilled software engineers and developers.
At a recent annual tech conference, Ignite China, Microsoft—a company who has already established several facilities in Shanghai—revealed over 100 new cloud and AI services designed specifically for the Chinese market, highlighting its commitment to expanding capabilities and supporting innovation in the country.
“Derek Ng, Vice President of Dyson China confirmed the company’s plans to invest 120M USD in R&D, with a focus on increasing the amount of skilled software engineers and developers.”
The Effect on Talent
It is believed that the more sought-after jobs are skilled roles, software developers, engineers, and scientists. Employers have displayed a preference for candidates with foreign language abilities and cultural experiences.
With these new market advancements in Shanghai and China, the demand for high-level executives to support these investments has increased. For global companies, this means navigating local talent pools, as well as coordinating and supporting the transfer of international executives. Services such as Market Mapping, Onboarding Support & Assessments, and even Recruitment Process Outsourcing (RPO) can assist and ease the pain of hiring both internationally and in local markets.
