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China’s Big Tech companies revive expansion plans after Beijing vows to give the green light on more deals, ends regulatory crackdown
- The reinvigorated state of the tech sector is reflected in the recruitment efforts of several large firms, including Alibaba, ByteDance and Meituan
- Big Tech enterprises remain some of the largest employers for the country’s workforce of 880 million
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Ben Jiangin Beijing
China’s Big Tech companies are ramping up plans for potential new acquisitions and accelerating recruitment initiatives after a wave of lay-offs last year, as Beijing’s pledge to give the green light on more technology deals and the end of a 32-month regulatory crackdown have put the industry back in expansion mode.
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The country’s major internet platform operators “are now in a position to keep investing in new development programmes”, said Zhuang Shuai, founder and chief analyst at market consultancy Bailian.
The reinvigorated state of the tech sector is currently reflected in the increased recruitment efforts of several large firms.
On-demand local services giant Meituan, which runs the country’s leading food delivery platform, on Monday announced 6,000 new positions in the firm that are open to fresh graduates. This marked a 20 per cent increase from the 5,000 vacancies it had last year.
Kuaishou Technology, operator of China’s No 2 short video app, last month announced more than 200 roles that are open at the firm, while miHoYo, the video gaming studio behind international hit Genshin Impact, has 130 new vacancies to fill, according to its recruitment website.
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