Brain drain

17 Jan 2017 By Rachel Morarjee

Multinationals are losing the battle for top Chinese talent. Local firms poached almost a third of executives who changed jobs in the past five years, while only 10 percent went the other way, a survey finds. Still, MNCs retain one big advantage: a career escape from China.

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More than 40 percent of Chinese business leaders have changed jobs in the past five years, with half also changing industries, a survey by Bain & Company published Jan. 12 found. The survey, done in conjunction with LinkedIn China, questioned 25,000 executives at 220 companies in China.

Almost a third of leaders at local firms – 31 percent – previously worked at multinationals, while internet, public relations and luxury-goods companies, saw the most job-hopping.

A survey by popular job-search site Zhaopin listed the top 10 Chinese employers as Tencent, China Merchants Bank, BMW China, Alibaba, the People's Insurance Company of China, Vanke, Ping An Insurance, IBM, Mercedes-Benz and Starbucks.

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