People's Daily: Nearly half of China's companies will increase employee salaries by nearly 10%

Recently, Mi Gao Pu Zhi interviewed nearly 1,000 employers from all walks of life in mainland China, consulted their views on the recruitment trend next year, and announced the “2017 Michael Page Asia Regional Salary and Employment Report”. The survey results show that In mainland China, 48% of companies plan to increase their positions in 2017, and 45% of respondents said they expect to increase their wages by 6%-10% in the coming year.
Andy Bentote, senior managing director of MiGao Puzhi Greater China, is optimistic about the recruitment situation in mainland China in 2017. He told reporters that despite the adjustment of the Chinese economy, the mainland of China in 2017 Recruitment prospects will remain optimistic. Overall, the employment level in the Mainland will remain stable next year. The Chinese job market will still be dominated by job seekers, and top talents are very scarce. They usually get more job opportunities.
At the same time, he also believes that a corporate culture with commonality is gradually taking shape, and more and more companies are committed to building an inclusive corporate culture and listening to the voices of employees. Most of these measures are aimed at millennials, because millennials pay more attention to this standard and they will be the main force of China's next generation of employees. “In 2017, the industries that are expected to grow are currently globally attractive industries such as renewable energy, financial technology, social media and consumer electronics.”
As Chinese local companies quickly become employers capable of attracting and retaining outstanding talents, China's talent competition may also intensify. Multinational companies that once had a strong employer brand strategy have become more cautious in recruiting talent.
In mainland China, the company regards career development (77%), salary increase (62%) and learning and development opportunities (51%) as the three magic weapons to attract and retain talents. Andy Bentote predicts that as the Chinese job market matures, Chinese employees will continue to focus on career advancement and development, rather than just focusing on salary.
At the same time, People's Finance found that business confidence in Chinese companies has also increased, and many companies plan to increase investment in China in 2017 or increase the number of employees.
PwC released the 2016 APEC CEO Survey China Report at the end of November, showing that 59% of Chinese and Hong Kong respondents plan to increase their investment in China in the coming year, compared with 54% last year. Of the other APEC business leaders with business in China, 43% said they are increasing their investment in China.
Zhao Boji, chairman of PricewaterhouseCoopers Greater China, believes that these entrepreneurs have a long-term vision. Although China's economic growth has slowed down, China's economic size and capabilities have made it possible for business leaders to continue to invest in China and expand their business. China remains a promising economic engine for APEC companies to create new products and build partnerships.
The "German Business Confidence Survey 2016 in China" released recently shows that the proportion of German-funded enterprises that have an "improved" attitude toward China's economic prospects in the coming year has increased from 23% last year to 29%. Looking forward to the Chinese market in the next five years, German-invested companies surveyed generally believe that the implementation of "Made in China 2025" will bring new opportunities for development.
New changes in the Chinese market require companies to accelerate the pace of transformation, upgrading, and replacement, so as to continue to grow with the Chinese market while maintaining their competitiveness. “The Chinese economy is in a critical period of economic transformation, shifting from export-oriented to domestic demand-driven, and this process has also brought opportunities to the banking industry.” Ma Heqi, Managing Director of Trade Finance and Corporate Cash Management, Deutsche Bank China In an exclusive interview with reporters, "Financial institutions always serve the actual needs of economic development. Therefore, in addition to the flow of import and export funds, we will focus more on local trade financing, cash management business, etc. to adapt to the Chinese market. New changes."

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