Pessimism can't cloud silver lining for economy
Updated: 2016-01-14 07:48
By Simon Lance(China Daily)
|
|||||||||
The central plank of the effort is to urge a wide application of Internet technologies to enhance business efficiency or create customer-friendly transaction models, aiming to redraw the country's commercial landscape. According to a report by iResearch, China's leading market research company focusing on information technology, 47 enterprises in the country now sport the tag of "unicorns", or unlisted Internet companies which are valued at no less than $1 billion. It's just a matter of time before the upcoming Internet giants begin generating millions of new jobs.
It's safe to say that China has already become a frontrunner in developing the online-to-offline model worldwide as the use of mobile technology in the country is ahead of any other market around the globe.
It's true that China is losing its competitive edge in labor-intensive manufacturing sectors to some emerging economies, but a wave of innovative technology companies could eventually offset the loss of jobs amid relocation of production facilities abroad. The Internet giants could usher in a complete chain of businesses, all the way from warehousing, delivery and after-sales services to payment. New jobs are created in tandem with the expansion of online business empires.
In fact, a transformation of the business model could lead to a temporary problem of talent mismatch that was reflected in the Hays Global Skills Index which awarded China a relatively high score of 4.9. There are no quick fixes in tandem with the transitional period when employees, job seekers and businesses are experiencing some changes never seen before anywhere.
We propose some recommendations for policymakers, employers and international organizations:
The first is to enable more and easier skilled migration to allow businesses to access workers with key skills. Second, it is necessary to ensure better training for employees and closer collaboration with schools, universities and technical colleges to deliver the skills' pipeline of the future. And finally, businesses must be encouraged to embrace technology and maximize the skills at their disposal.
The author is managing director of Hays in China.
- Global health entering new era: WHO chief
- Brazil's planning minister steps aside after recordings revelation
- Vietnam, US adopt joint statement on advancing comprehensive partnership
- European border closures 'inhumane': UN refugee agency
- Japan's foreign minister calls A-bombings extremely regrettable
- Fukushima impact unprecedented for oceans: US expert
- Stars of Lijiang River: Elderly brothers with white beards
- Wealthy Chinese children paying money to learn British manners
- Military-style wedding: Fighter jets, grooms in dashing uniforms
- Striking photos around the world: May 16 - May 22
- Robots help elderly in nursing home in east China
- Hanging in the air: Chongqing holds rescue drill
- 2.1-ton tofu finishes in two hours in central China
- Six things you may not know about Grain Buds
Most Viewed
Editor's Picks
Anti-graft campaign targets poverty relief |
Cherry blossom signal arrival of spring |
In pictures: Destroying fake and shoddy products |
China's southernmost city to plant 500,000 trees |
Cavers make rare finds in Guangxi expedition |
Cutting hair for Longtaitou Festival |
Today's Top News
Liang avoids jail in shooting death
China's finance minister addresses ratings downgrade
Duke alumni visit Chinese Embassy
Marriott unlikely to top Anbang offer for Starwood: Observers
Chinese biopharma debuts on Nasdaq
What ends Jeb Bush's White House hopes
Investigation for Nicolas's campaign
Will US-ASEAN meeting be good for region?
US Weekly
Geared to go |
The place to be |