A growing number of people in China are turning to jobs in the digital-fueled new economy as the COVID-19 pandemic reshapes the world by accelerating a shift to online business, according to a recent report.
China’s labor market has recovered significantly and became more vibrant during the spring recruitment season, and the new economy has become the key growth driver in the job market, said the report by Chinese professional networking platform Maimai.
The report said both supply of, and demand for, talent are booming in the job market as job-hunting activity increased sharply in the spring job-hunting season with less competition compared to the previous year.
Artificial intelligence topped all other fields in terms of the ratio of the number of people with strong intentions to apply for jobs divided by the talent base number.
That was followed by new entertainment and online education.
Games, new life services, smart hardware, new education and training and e-commerce are also among the fastest-growing job categories during spring recruitment season.
Wang Qian, co-founder of Maimai, highlighted the accelerated digital transformation and booming new economy across the nation, saying China has witnessed new growth opportunities in new economy fields such as online education and e-commerce in light of the COVID-19 outbreak.
“During this year’s spring recruitment, middle-leveled and high-end talent become interested in working at companies in new economy fields such as online education,” Wang said.
“Despite the coronavirus impact, many digital platforms are ramping up efforts to hire talent.”
With the booming internet, AI, big data, cloud computing and other emerging technologies, the digital economy is gradually becoming the integral driving force for economic growth, said a white paper published by the China Academy of Information and Communications Technology.
According to the white paper, the added value of China’s digital economy reached 39.2 trillion yuan ($6 trillion) in 2020, accounting for nearly 40 percent of the country’s GDP.
In fact, the booming new economy sector has brought new growth opportunities for non-first-tier cities such as Hefei, Anhui province, Wuhan, Hubei province, and Hangzhou, Zhejiang province, attracting an increasing number of young digital talent to fields such as AI, education and new media, Maimai said.
Linda Zhang, partner-in-charge of global executive search and consulting firm Heidrick & Struggles’ Shanghai office, said China’s job market saw rising demand for digital talent during the coronavirus-stricken 2020.
“The pandemic accelerated a shift to online business such as online shopping, with a surge in demand for new talent in fields such as IT and digital sectors,” Zhang said.
She also said the coronavirus pandemic is shaping new kinds of production, consumption and operation models, and emerging digital technologies will help improve overall business and work modes.
“Looking ahead, most Chinese corporate executives will be required to acquire data capabilities,” Zhang said.
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