China’s tech industry has experienced another recent surge, reports Reuters, with record-levels of capital reaching innovative companies in fields such as cybersecurity and artificial intelligence. Such investment is encouraged by the government, who wants to accelerate China’s path to global tech dominance.
Whilst Chinese tech corporations may still not be household names in the West, they comprise an expansive and dynamic industry. Companies such as Alibaba and Tencent are now worth more than a trillion dollars combined, and look to extend their growth with massive job creation and wage growth.
The tech industry in China is certainly an attractive destination for young talent. Graduates working in AI can expect salaries of up to 600,000 yuan ($94,000) according to site 100offer.com, with considerable promise for progression.
According to Thomas Liang, a former executive at Baidu, startups in sectors like AI will often groom potential employees with 50-100% pay raises to keep them from straying to established firms.
“Companies are well-funded and are in serious competition for talent”, he added.