China ranks second in world as expat destination for career progression: HSBC report

By Sun Wenyu

China ranks second in the world as an expat destination for career progression, only after the U.S., said the Expat Explorer Survey recently issued by HSBC. The survey invited more than 27,500 expats in over 150 countries and regions this year to share their experiences in different areas ranging from personal finance to living conditions. More than 70% of the foreigners living in China believe that the country has offered a broader vocational prospect for them, up 16% since last year.

Half of the foreigners said they have developed new skills after coming to the country, and 55% of them had their disposable income raised. Higher income is the reason why Indian software engineer surnamed Jayanth decided to work here. “I don’t have to compete much thanks to the rich public resources here,” he said, adding that he will have more opportunities when he returns to his home country because of his working experience in China.

Dominic Morgan, who comes from UK and now works in the media industry in Shanghai, noted that China is set to become the most important country and market in the world and that Chinese enterprises would also become very strong in overseas markets. Though his income is less in China than that in the UK, the cost of living is much lower here, Morgan said, adding that his life experiences have also been enriched.

Thanks to the rapid development, China is gradually narrowing the gap between itself and the developed countries, said Chen Wei, head of Zhangjiang Platform Economy Research Institute. The country is offering more opportunities for foreigners with improved environment and policies, Chen added.

Shanghai, for instance, has always been one of the hottest cities in China for foreign talents. By the first half of this year, a total of 896 high-level foreign talents in the city have been recruited by the Thousand Talents Plan, a recruitment program for global experts. In addition, more than 140,000 foreigners are currently working and studying in Shanghai, and the city has become a permanent residence for 93,000 foreign experts.