Bay Area integrating industry, talent

2024-06-18 10:20:45Global Times Editor : Li Yan ECNS App Download

The Guangdong-Hong Kong-Macao Greater Bay Area has achieved good results in integrating industry and talent, especially in the high-tech sector, according to a recent report by the recruitment portal Zhaopin and Peking University HSBC Business School.

It said the Bay Area had relatively balanced labor supply and demand last year, and the good integration between industry and talent in some cutting-edge sectors such as biomedicine and new energy will create new growth engines for the area's high-quality development.

Biomedicine and healthcare were among the industries achieving good results in integration last year thanks to a sufficient supply of labor, good pay and supportive policies from the local authorities, the report said.

It said over 3.5 million people sought healthcare-related jobs in the Bay Area last year, with new recruits' monthly pay averaging about 11,000 yuan ($1,517). The average pay for newly recruited bioengineers was 13,902 yuan a month.

Guangdong province has included the biomedicine and healthcare industry in its development vision and wants it to achieve an annual revenue of 1 trillion yuan by next year.

However, some services-related industries, including retail, real estate and construction, have shown unsatisfactory results in integrating industry and talent, the report said, with problems such as surplus labor and pay cuts emerging.

Hao Jian, a data analyst from Zhaopin, said the Bay Area is strong in economic and manufacturing power and leads growth in new industries, including smart vehicles, the digital economy and the information industry.

He said its economic advantages help attract talent, and this has laid a solid foundation for the integration of industry and talent.

"The Bay Area has cooperated with other provinces to introduce good education resources for its talent production," he said. "As an important part of the Bay Area, Guangdong province has a population that is aging by less than the national average level, bringing it a demographic dividend."

He said the Bay Area can create more high-quality job openings in services-related industries such as logistics and finance, in addition to some high-tech and key sectors, as the area will need more all-around talent in the process of upgrading traditional industries.

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