A growing number of Chinese tech companies have hired former government officials as part of efforts to navigate the government’s efforts to tighten up regulation of the sector, reported the Financial Times.
While it is not uncommon for officials in the US and Europe to move between the government and private sector, it was largely unheard of in China until recently. But such “revolving door” career moves have become increasingly common as the government has strengthened the Communist party’s grip on the world’s second-largest economy.
For Chinese bureaucrats, the rewards for a career change are high. A number of former officials told the FT that their pay increased three to six times after joining private-sector employers.