There have been an increasing number of foreigners job in Beijing during the last two decades. That’s why! A large number of non-Chinese citizens are taking advantage of the influx of foreign firms seeking to penetrate China’s enormous market share.
Beijing’s Workforce
To work in Beijing, you’ll be working in China’s largest post-industrial metropolis. Job In Beijing now, just a third of the workforce is involved in industry, and that doesn’t even include agriculture. In Beijing, the tertiary sector generates more than 73% of the city’s impressive yearly GDP. Most of China’s capital’s industrial activity is focused on the city’s projected future growth sectors.
Development of new technologies and scientific knowledge
Suburban Yizhuang is home to Beijing’s Economic and Technological Development Area (BDA). In addition to medicines, Sanofi-Aventis is a major player in the materials engineering, mechanical and electrical product, and pharmaceutical industries.
In Beijing’s “Silicon Valley,” i.e. Zhngguncn Science Park in the university area of Heidian, a large number of IT experts are employed. Because many high-tech and ICT companies have branches in Beijing, you are more likely to work in a Zhngguncn office if you want to work in Beijing.
Zhngguancun Scientific Park is the largest and most successful of China’s around 100 science parks, of which 52 are national, i.e. recognized by the central government, and was formally established in 1988, but it existed unofficially as “Electronics Avenue” before to that. Anyone interested in intellectual property rights, venture capital, and start-up firms will find it intriguing.
Increased employment opportunities in Beijing’s “Silicon Valley,” particularly for those in R&D, are expected to improve China’s position in the patent arena. For every 10,000 Chinese researchers, there were only 10-11 successful patent applications submitted each year in 2000, despite the large number of scientists working in China’s university towns. According to the results from countries such as the US and Japan this was a poor showing compared to other developed nations.
Patent applications from Chinese inventors have seen a dramatic increase in the number of successful overseas filings since 2006. This demonstrates that the work of scientists in Beijing and other scientific parks is paying off in the long run. R&D spending in China overtook Japan’s in 2011, Europe’s in 2018, and the United States’ in 2022, according to forecasts. Since 2011, patent applications in China have quadrupled, and a higher percentage of the world’s scientific publications comes from China.
It seems that China has arrived on the international stage of invention and that individuals working in Beijing are at the forefront of all these developments, paired with constant growth and the construction of infrastructure.
The Financial Capital of the World
There is a favorable environment for Chinese entrepreneurship and international investment because of the expanding scientific and technical innovation and the financial significance of the capital. Everyone working in Beijing’s tertiary sector relies heavily on finance as a source of income. Since the development boom seems to be finished for the time being, real estate has lost some of its importance. In truth, China’s real estate market has been in decline and price corrections since 2014. Only from May to June did prices fall by 0.5 percent. The amount of new house purchases in Beijing has decreased by almost half compared to the same period last year.
Financial Street in Beijing may be known as the “China Wall Street” despite the fact that China’s stock exchanges are in Shanghai and Shenzhen. Hundreds of local and international financial organizations, including Goldman Sachs and JP Morgan, are housed there, as well as the three most prominent regulatory and supervisory bodies in China. A large number of people are employed here because to the presence of 52 Fortune Global 500 firms in the city.
Working in Beijing requires foreign professionals to establish their credentials, whether they are employed by a Chinese firm or one of the many multinational corporations based there. Chinese officials hope that this new approach would help them recruit the best international talent and expats from all around the globe to help further their country’s growth and global influence.
It’s excellent news for foreigners looking for work in China since many multinational corporations have set up shop in Beijing, but bureaucracy remains an issue. A work permit and visa is still required for people who have found a job in Beijing or are planning on doing so in the future.