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Corporate competitiveness

(China Daily)

16:17, August 22, 2012

The increasing popularity of big State-owned enterprises among Chinese employees is becoming only more evident as the economic recession in Western countries forces some foreign businesses to cut staff even in China, which remains a promising market for many industries.

A recent survey of Chinese college graduates by suggests that seven of the top 10 best employers to work for in China are all domestic companies.

Meanwhile, reports have come out saying that the cell phone manufacturer Motorola Mobility Holdings Inc, once a top foreign employer in China, was laying off hundreds of employees in Beijing and Nanjing as part of a plan to cut about 4,000 jobs globally.

So quick a reversal in the relative prestige of SOEs and foreign companies speaks volumes about the Chinese economy's development.

Long after the country adopted its reform and opening-up policy more than three decades ago, foreign companies were seen as being nearly synonymous with sophisticated technology, advanced management and generous worker benefits.

Given that reputation, it was natural that many Chinese graduates would prefer to work for foreign employers, especially in the late 1990s, when a large number of State-owned enterprises were on the brink of bankruptcy.

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