China Lacks the Right Workers to Boost Xi’s Favored Tech Jobs
Data from Maimai, China’s LinkedIn, show labor bottleneck in emerging industries
The hiring momentum has shifted to a slew of burgeoning industries favored by Beijing.
Photographer: Giulia Marchi/BloombergThis article is for subscribers only.
For a decade, China’s tech giants like Alibaba Group Holding Ltd. and Tencent Holdings Ltd. were a major driver of its economy, drawing the lion’s share of top talent to work in their ecosystems that controlled everything from messaging to payments.
Their boom years have come to an abrupt halt, with a regulatory crackdown, an economic slowdown and recurring Covid lockdowns now forcing them to cut thousands of jobs.