Business
22:33, 03-Apr-2018
Why are so many cities fighting to expand their talent pools?
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Cities in China are making efforts to attract talent from across the country by lowering entry barriers and reforming their household registration permit or "hukou" policies.
But why are so many fighting to expand their talent pools?
The answer lies in the restructuring of the economy. The government work report shows that contribution from consumption accounted 58.8 percent of total GDP last year, up nearly four percent from the previous year. Investment in technological research and development also jumped 11 percent last year from 2016.
When choosing a new work location, the prominent factors that talents are considering include policy environment, the quality of living and the local economic development, according to research from the Center for China and Globalization (CCG).
Tang Beijie, deputy secretary-general of the CCG, believes that hukou is one step towards building up a more comprehensive capability and competitiveness for talent recruitment.
Earlier this year, Beijing eased access for skilled workers to acquire household registration documents. The new rules stipulate that professionals from other provinces can transfer their household registration records to their firms in Beijing. Shanghai's implemented a similar talent program, offering a Shanghai hukou in 13 high-tech areas.
Meanwhile, in Shenzhen, graduates from leading overseas universities can apply directly for work permits. Tang said that the overall trend in attracting global talent is moving in a favorable direction.
Some analysts are calling for education reforms with an aim of developing skilled persons with innovative and creative abilities. Tang noted that the education sector in China has made “some impressive progress.”
And in the future, she expects to see more global tech multinationals, such as Google and Microsoft, to develop joint programs with Chinese schools.
Central government's push to deepen supply-side reforms means that the competition for skilled professionals will significantly increase this year, analysts say.
(CGTN’s Wang Yue also contributed to the story.)