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HINA – BEIJING GOVERNMENT EASES RULES ON FOREIGN RECRUITMENT FIRMS (ECNS)

ECNS reports that foreign recruitment firms can now own up to 70% of a joint venture registered in Beijing, up from the previous figure of 49%, according to the city’s Human Resources and Social Security Bureau. The Bureau also announced that a requirement has been removed that foreign investors have at least three years of experience in the recruitment industry overseas before entering the Beijing market. Simon Lance, managing director for China at Hays Specialist Recruitment said it was a positive move that will drive innovation and boost more cooperation between Chinese and foreign recruitment companies. The Bureau stated it expects that the new policy will bring benefits to both foreign investors and Chinese firms that are short of senior talent.

Source: staffingindustry.com