With over 15 million young people out of work (as mentioned in parts one and two of this series), the Chinese Community are facing the prospect of widespread disengagement with the future workforce. In addition, the official unemployment rate for 16-24-year-olds reached 19.9% in August 2022, which many believe is a significant underestimation.
This breakdown of employment prospects signals much more than an acute economic challenge. It also signals a threat to the national incentive. For decades, the government has encouraged young people to channel their energy into money-making endeavours during rapid and unprecedented growth. The conformity that China once rewarded is no longer proving as effective.
Whilst we are yet to see the full effects of this crisis on China’s youth, many are prepared to see an increase in drop-outs. This cohort is referred to as Tang Ping by Chinese people, which translates to “lying flat”. We have written a blog about Tang Ping here. Though there are no official statistics to validate the scale on which people are adopting this mindset, support is growing. The individuals usually involved in this act are young professionals who abandon their high-stress jobs for a more simplistic lifestyle. This new lifestyle often involves lower-paying work — or no job. The Tang Ping ideal goes against the message that young people should work to build a productive, nationalistic, young China. Instead, it signals a shift in attitude and a desire to re-evaluate the current circumstances.
So what is next for China’s young people?
Whilst the outlook is concerning, it is far from hopeless. Several companies have exciting initiatives running in China for those still looking to branch into China’s corporate world. For example, the British Chamber of Commerce has pioneered an Employability Week. This week is jam-packed with webinars, coaching sessions, and a careers fair. Companies that attended the fair include big names such as:
- Guanghua School of Management
- Eurus
- Midea
- HSBC
- HAYS
- Hampton Group
- JLL
- SWIRE
- NEW HOPE GROUP
- Venture
- United Family Healthcare
…and many more exciting prospects were on offer
The Young Professionals Development Programme is another program we wish to highlight. The British Chamber of Commerce run this program also, and it is available to “the next generation of young professionals”.
The course provides workshops designed to elevate employability and networking skills and aims to mentor young professionals in key developmental areas. Each segment is delivered by mentors that are experts in their field and focuses on helping young people stand out amongst their peers.
The programs and support available show that there are still plenty of opportunities for China’s youth, even in the current job market. However, it is essential to remember that this is just a tiny glimpse into a much larger and more complex problem. The next generation must be adaptable and resilient to weather the storm ahead.
How can Kinyu help?
As a China-based company, Kinyu is keen to do its bit to boost local job opportunities. Kinyu’s founder Benjamin King has complete confidence in those committed to self-development. As such, he has built Kinyu to continually facilitate and encourage those who strive to improve their chances within the working world.
The Kinyu team is committed to ensuring that all our employees are well-trained and have the necessary skills to succeed in any role. This commitment has taken various forms over the years, and we are proud to have previously supported these initiatives to ensure the longevity of skills required well into the future.
Kinyu’s flagship service, The China Desk, offers:
- Help foreign companies to find and hire the right talent
- Good quality jobs with decent pay and working conditions in the local market
- Engagement for China’s youth resulting in delivering for companies, contributing to the local economy and living their full potential within the working world
In times of significant change and disruption to global supply chains, companies need tools to plan their next steps. The China Desk is a value-add function for companies that do not have a presence in China, helping them take advantage of the Chinese market. In addition, this solution eliminates the need to set up an entirely new and dedicated team with a workspace in China. With new offices in Tianjin and Guangzhou, Kinyu is already hiring people on the ground for UK companies. Through The China Desk, clients can now hire any position ranging from QC Inspector to a Country Director, covering every area of your China operation.
If you need more support on the ground for your supply chain management, find out how The China Desk could work for you or book an introductory meeting.
For more information and an overview of the packages available, please visit https://www.kinyu.co.uk/china-desk/. You can also get in touch via info@kinyu.co.uk or give them a ring at +86 181 7315 8445.
**Featured image copyright dw.com
