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Foreign Fund to Be Permitted to Enter China Talent Market

Tang Jun, vice director of Talent Exchange and Development Department of Ministry of Personnel, recently revealed that China will map out regulations to formally permit foreign talent service agencies to enter the Chinese talent market. Foreign funds will be allowed to set up joint-venture talent agencies at the initial stage. Ministry of Personnel has started drawing up the "Regulations on the Management of Talent Market", "Regulations on the Management of Network Talent Services Agencies", "Regulations on the Management of Foreign Talent Service Organizations in China", etc., so as to promote an effective construction of China's talent market through statutory construction.

Although the appearance of regulations tends to lag behind the current situation of China's talent market and many talents service agencies run by the state, local people, individuals, joint ventures, and foreign fund respectively have already been mushrooming across China, it is still foreseeable that with the promulgation of the new policy, foreign human resources services, coveting for the Chinese talent market for a long time, are sure to swarm into China for it. The Chinese talent market is certain to experience a reshuffle. A batch of state talent agencies reeking of administrative practices will be unavoidably knocked out.

Lu Min, deputy director of Shanghai Talent Service Center, told the journalist frankly, "The opening of China's talent market is inevitable. After China enters the WTO, the competition in the talents market will become fiercer. The system, management, service and the conception of the regional national talent service market, all this should be marketalized".

Sources revealed that at the beginning of 2000, there had been more than 4,100 talent exchange institutions in China. Among them, 3,100 institutions are talent exchange services affiliated to governmental personnel departments, about 420 institutions belonging to industrial responsible authorities, more than 630 such agencies run by the locals and the other 2,600 are talents market institutions for nationwide services. With more new intermediary organizations to be set up competition will become extremely fierce. "Numerous yet small in scale" is the summary of the current situation of China's talent market given by Liu Wenbin, member of Administration Research Institute of Ministry of Personnel.

(People's Daily 08/13/2001)

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