China’s market wasn’t open to foreign businesses until very recently. Even now, it is still a highly regulated market that favors local businesses. The government protects its local businesses by nature as part of a bigger policy direction. However, all signs are pointing towards changes afoot.
The demand for foreign specialists is on the rise. As more companies from the United States and Europe set up their operations in the country, China’s job market is expanding at an immense speed. Even better, the economy is growing at an even faster speed than anticipated.
The 2020 Dream
The big goal that the Chinese government is trying to achieve is turning China into an economic superpower by the year 2020. It is already the biggest market in the world, so it has the potential and the resources to harness.
Other policies are being put in place to create a friendlier market for foreign companies. Shanghai is being prepared as the global financial hub. Shanghai and Beijing, along with the cities around them, are focusing more on manufacturing. Shenzhen is now the center of manufacturing for the world’s largest tech companies.
These seemingly unrelated policies are actually part of a bigger roadmap. The presence of a clear set of goals and a comprehensive roadmap for China’s economic future took the world by surprise, but it is another positive sign that brings us back to the country’s 2020 dream.
Positive Impacts on Jobs
The growth in mid- to top-level positions available across China is immense. There are more expats applying for jobs in the country in 2017 than there were during the past three years combined. Companies are looking for skilled professionals in select fields.
Accounting and finance are the most popular fields to look into if you are thinking about relocating to China’s growing economy. Many students studying for an online MSA degree from top names such as New England College, started their pursuits for this very reason. An online master of science in accounting degree is one of the most sought after qualifications on the market.
Engineering is another popular field, especially as the country is trying to expand its manufacturing capabilities further. Almost all manufacturing companies in China are now recruiting engineers from all around the world to boost the quality, efficiency, and capacity of their manufacturing lines.
More in the Future
As mentioned at the beginning of this article, the job market is expanding at an immense speed, but so is the economy as a whole. That level of growth, according to experts, is very sustainable. Expect to see no slowdowns over the next five to ten years as China gets closer to its dream of becoming an economic superpower.
China is getting support from many if its allies too. It is not a secret that a lot of countries now depend on resources and financial options from both the Chinese government and the country’s private sector. There is no better time to tap into the country’s immense economic growth than today.