Chinese AI, biotech talent in line for biggest increase in bonuses, according to survey

Workers in China’s hi-tech industries will see the biggest increase in bonuses across sectors for 2018, defying a slowdown in economic growth, according to a survey released by state-owned human resources consultancy China International Intellectech on Wednesday.

The average bonus for employees of companies in industries such as artificial intelligence, biotechnology and new energy will rise by 12 per cent from 2017 to 29,836 yuan (US$4,353), according to the survey.

2019 China tech look ahead: trade war likely to cast a shadow as AI, e-commerce, smartphone progress continues

The survey added: “Certain companies in the manufacturing, automobile, internet, finance and property industries had a shrinking bonus size.” It did not specify the amount. The poll, conducted in November 2018, covers 425 companies based in China’s tier 1 cities – Beijing, Shanghai, Guangzhou and Shenzhen – and 249 firms in its tier 2 and 3 cities.

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China Biotech: Six things to watch in 2019

More than $1.5 billion in cash flooded into four IPO offerings for China-based drug developers this year.

These were just the first. The China biotech IPO opening was—and will continue to be—a big ongoing story.

In April, the Hong Kong Stock Exchange relaxed rules allowing public stock investment in pre-revenue (development-stage) biotech companies. In July, the first such company (Hangzhou-based Ascletis Pharma) took advantage of the situation and went public in Hong Kong. Some predictable Wild West up-and-down stock action ensued. As the initial wave of enthusiasm passes, what are the main forces at work that will shape the market in the year ahead?

Read this exclusive report on Six Things to Watch in China Biotech by Luke Timmerman, founder of Timmerman Report, and see why you should gain even more exposure to the fastest-growing healthcare market in the world by attending conferences like  ChinaBio® Partnering Forum in Shanghai from May 8-9.

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