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Salary index - which sectors have the highest salaries in Mainland China for 2021?
While the past 18 moths affected the luxury goods, retail, infrastructure an real estate in China the most. Consumer spending, household income and employment demand are all seeing resurgence on the mainland. The 2021 Links salary index outlines market rates by industry in Mainland China for 2021.
Property and Construction salary index (CNY) - per month
According to to the report the pandemic has accelerated the restructuring of the the real estate industry. You can expect high demand for jobs in investment operations, property management and other positions.
Life science and healthcare salary index (CNY) - per month
People have naturally been more concerned about their health over the past year making the life science industry (medicine, medical devices, biotech and health management not only in high demand but extremely competitive. For talent recruitment, businesses are willing to fight for talent by offering stock options, attractive salaries, and better welfare benefits.
Technology, media and Telecoms salary index (CNY) - per month
You can expect the integration of high-tech into all markets to continue to thrive. With the rise of new media and accelerated informatisation of traditional industries expect companies to hire talent in advance and salaries of high level jobs to continue to increase.
Luxury and retail salary index (CNY) - per month
The digital transformation of the retail industry requires not only technology but also organisational management as an assurance. A large number of employees will no longer work based on processes, but on goals. The core function of enterprises will shift from management to empowerment. Traditional retail companies will quicken the pace of digital transformation by adding a shopping experience that integrates virtual reality(VR) and augmented reality(AR), allowing consumers to view the arrangement and appearance of virtual products in realistic scenarios.
"Enterprises need a growth mind-set and build new ideas from nothing). At the same time, employees have increasingly strong demands for capacity growth, self-development and self-breakthrough, so they are even more desperate for growth opportunities.” - Ms. Peggy Chen, HR Manager in the consumer goods industry business.
In accelerating a series of digital processes and shifting from offline to online, business leaders need to accept innovative changes with a more inclusive and innovative attitude to adjust their strategic development.
Industrial and Manufacturing Salary Index (CNY) - per month
The proposal of "Made in China 2025" programme has pushed the development of China’s industrial manufacturing to a new stage. To achieve high-quality rapid development of the industrial economy in China, one of the key drivers is to attract talent. From technological innovation and business transformation of enterprises, to new market entry and overseas market development, outstanding talent can help transform and contribute to the long-term development of enterprises in multiple aspects. Creating a reasonable talent structure, training domestic talent, and attracting overseas elites is a key problem that China's industrial manufacturing industry needs to think over and grapple with. Against the back drop of Sino-U.S. trade friction, China needs to upgrade its industries and talent at the same time to transform the country from an industrial manufacturer of quantity to one of quality.
ALSO READ: 2021 salary and trends report for Hong Kong
Lead image / 123RF
All other photos / Supplied by Links International
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