Eighty-nine percent of US-China Business Council (USCBC) member companies view rising costs as a top concern in the China market, according to USCBC’s 2017 Member Survey.
China Market Intelligence
New rules to promote local innovation in Shanghai, which has nearly 15 percent of China’s total foreign investment, may provide new tools for US companies to attract foreign and local talent.
HR managers face a litany of hurdles including rising wages and new laws and regulations, along with the ongoing challenge of attracting and retaining talented workers and managers. At the same time, mass layoffs and employee relocation issues in China have become more common as companies balance an increasingly competitive marketplace with slowing economic growth.
More and more US companies have active research and development (R&D) operations in China, and many have seen these operations evolve from small groups primarily focused on product localization to globally significant operations conducting cutting-edge R&D for the China market.