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China
- Recruitment landscape
- Economic indicators
- Labor market
- Working life
Your global agency guide to...
China
China, with a GDP of $17.8 trillion, stands as the 2nd largest global economy. Its main industries include services, industry and manufacturing, and agriculture. With a moderate unemployment rate of 4.7%, the labor market appears stable. China has a moderate number of recruitment agencies to support its substantial working population and economy, although it faces potential future challenges due to its youth population being below the world average. Gender parity is progressing, and robust parental and sick leave policies contribute to a supportive labor environment.
China'S
AGENCY LANDSCAPE
1.1K
Agencies operating in China
A high number of agencies indicates a mature recruitment industry, marked by strong talent demand, established labor laws and economic stability.
15-20%
Typical fee range
Countries with higher fees imply finding talent is harder to find whilst lower fees indicate a high-volume, commoditized market.
China'S
FEATURED AGENCIES
Dalian First Talent Development Management Co.,Ltd.
99Owls Consultancy
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China'S
GROSS DOMESTIC PRODUCT (GDP) RATING
2
WORLD RANKED
China ranks 2nd in the world by current economic output
$18T
NOMINAL GDP (US$)
GDP reflects the overall size and economic strength of the country’s economy.
1
APAC RANKED
China is the 1st biggest GDP in APAC out of 41 countries in the region
GDP GROWTH (%)
The above chart compares how China's GDP has grown, compared to the rest of the world and the APAC region in the last 7 years.
Positive growth indicates an expanding economy, while negative growth or recession signifies economic contraction. Strong growth can encourage hiring, but slower growth might lead to freezes or layoffs, influencing talent sourcing as businesses adapt to changing market conditions and demands.
China'S
CURRENCY AND CODE
CN¥
Country currency
CHN
Country ISO code
China'S
INFLATION RATE
1.0%
CURRENT RATE
▲0.8% INCREASE
Inflation represents the rate at which prices rise and purchasing power diminishes. High inflation may prompt employees to seek higher wages, potentially impacting company profitability. This situation could lead to budget constraints or hiring freezes, which might influence talent availability and sourcing strategies.
China'S
COST OF LIVING
COST OF LIVING INDEX EXPLAINED
The cost of living has a direct impact on salary expectations and the competitiveness of compensation packages. It can influence the appeal of certain locations-while high-cost areas may attract highly skilled professionals looking for higher salaries, lower-cost areas can appeal to companies looking to minimize salary expenses or candidates seeking a better work-life balance.
China'S
LABOUR STATISTICS
1.4B
POPULATION
With a population of 1,411,778,724, China is a large sized country by global standards. China's youth population is just below the world average, indicating it may face challenges in labor market sustainability over time. The working population in China is close to the world average, suggesting a stable labor market that can adequately meet the economy's demands. China's elderly population is close to the world average, suggesting a manageable dependency ratio, where the working-age population can effectively support the elderly.
China'S
RELIGION AND ETHNICITY
Religion
In religiously diverse countries, a broad sourcing and engagement approach whilst appealing to inclusive practices resonates with this candidate market. In contrast, in a homogeneous religious environment, understanding dominant cultural norms is often more important when engaging with talent.
Ethnicity
In ethnically diverse countries, there may be a greater variety of candidates with different cultural backgrounds and experiences. Employers may need to focus more on inclusive hiring practices to ensure they attract talent from across different ethnic groups.
China'S
UNEMPLOYMENT RATE
4.7%
CURRENT PERCENTAGE
▼0.31% REDUCTION
China's unemployment rate is healthy, indicating a well functioning labor market with good job opportunities for most people. Between 2022 and 2023, there was a small decrease in unemployment, suggesting continued economic stability with a slight improvement in job availability
China'S
TOP PERFORMING COMPANIES AND INDUSTRIES
Top performing companies
Byd
Jingdong Mall
Yum China
Top industries
Services
Industry and manufacturing
Agriculture
China'S
GENDER DEMOGRAPHICS
RATIO OF MALES TO FEMALES (BY AGE)
LABOUR PARTICIPATION BY GENDER (%)
72
/
61
Male | Female
In China there is a medium gap in participation rates between males and females, indicating moderate inequality with some progress towards gender parity.
China'S
WORKING LIFE
11DAYS
Minimum annual holidays
Minimum annual holidays reflect mandated leave. Hiring in countries with high allowances (over 25 days) will require emphasizing work-life balance when recruiting. In countries with fewer holidays (under 15 days), offering additional leave can enhance recruitment and set the organization apart.
40HRS
Average working full time week
Standard workweek is Monday-Friday, 8 hours/day, 40 hours/week, extendable to 6 days, 44 hours. Overtime is paid at 150% on weekdays, 200% on weekends, 300% on holidays, with a 36-hour monthly cap and 3-hour daily limit.
China'S
TOP BENEFITS
120DAYS
Maternity leave
China's maternity leave offers 120-158 days with full pay, extendable for complications. Paternity leave is 7-30 days, fully paid. Parental leave in Beijing/Shanghai is 5 days/year until child turns 3.
180DAYS
Sick leave
In China, employees can have up to 180 days of paid sick leave, with varying rates and payers based on duration and tenure. Benefits range and complexity is notable.
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