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Industry Pulse | December 2019
#Media Asia-Pacific Media Survey: Redefining the Value of Content provided by BritCham member: Social media, news aggregation websites, e-mail and other online channels are the most popular channels for journalists to source story leads, but journalists¡¯ preferences for instant messaging (IM), search engines, mobile news apps, and corporate websites vary across the region. 25% of journalists have indicated that content quality is their top priority, followed by readership (e.g. number of views) and number of original news stories (e.g. X stories per week). The proliferation of rich multimedia formats had the biggest impact on media content in the past year. News visualization, in-depth reporting, video shooting/ editing are the top skills that journalists seek to develop. Overt marketing (21%) is the top reason for journalists from the majority of APAC markets (defined in this paper as eight markets - Australia, Hong Kong, Taiwan, Indonesia, Malaysia, Singapore, South Korea and Vietnam) to ignore emails from PR professionals. To develop more valuable media relations, PR professionals need to develop a more targeted and localized approach. Press releases are a trusted source of information. Journalists prioritize newsworthiness (43%) and relationship-building (25%) when evaluating corporate event invitations. For more information, please click here. #Finance New Verification System Has Been Launched to Check Transactions provided by BritCham member: The People's Bank of China, the Ministry of Industry and Information Technology, the State Administration of Taxation, the State Administration of Market Supervision, four departments have been closely cooperating and they have launched a new company information verification system in late November to better supervise enterprises' behaviors. The launch of the company information verification system means that the information sharing between different government departments will be more direct, smooth and convenient, the country's supervision on the money is getting increasingly strict. The company information verification system is an important supporting measure for the policy of canceling Licensing of Corporate Bank Accounts. The new system is expected to optimize account services and strengthen post-event supervision. Previously, the People's Bank of China issued the "Notice on Cancelling the Licensing of Corporate Bank Accounts" (Yinfa [2019] No. 41), which clarified: the commercial banks should cancel account opening permits but strengthen bank account capital control. For more information, please click here. #Human Resources The Hays Global Skills Index 2019/20 provided by BritCham member: MARKET INSIGHT: China¡¯s economy continued to grow rapidly, expanding by 6.6% in 2018. Some 60% of the growth in GDP came from the service sector. An expansion in economic output by the mining and quarrying, manufacturing, utilities, and construction sectors was responsible for 36% of the GDP growth and agriculture, forestry and fishing the remaining 4%.In 2018, employment remained virtually unchanged. This masked a 2.3% or 9.6 million rise in the numbers employed in urban areas. This mostly offset a 2.9% or 10.1 million decline in rural employment. This continues the long-term trend of urbanisation. The unemployment rate based on the numbers of registered unemployed fell by 0.1 percentage points to 3.9%. The survey-based measure of unemployment for urban areas suggested the urban unemployment rate was slightly higher at 4.9%. KEY DRIVERS:
VIEW FROM THE GROUND: In recent years, China¡¯s local labour market has increasingly been able to meet the hiring demands of employers, represented over the past five years by a steadily decreasing Overall Index Score. However, there are exceptions to this trend, where skills shortages have the potential to hamper business operations: these are typically within high-tech sectors and STEM job functions. In addition, employers are becoming more selective in their hiring decisions, and focusing greater attention on soft skills, culture fit and aptitude for ongoing learning. Various new technologies and heightened consumer expectations continue to bring about unparalleled changes across retail banking, which indicates transformation within the sector is far from complete. - Simon Lance, Managing Director, Hays Greater China KEY SKILLS IN DEMAND:
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