Chinese startups have grappled with the so-called “capital winter” since the beginning of this year as funding shortage widens. In the midst of tight budgets, many companies choose to place a freeze on hiring or even downsize the team. Some industry insiders predict a gloomy prospect for hiring industry, but according to Ella Bao, co-founder and CMO of tech recruitment platform Lagou, the impact of capital winter is over exaggerated.

“In the third quarter of this year, we have done researches based on recruiting data across 25 verticals of internet and technology industry. For example, there’s a significant drop in the number of positions and hiring companies in O2O sector. But that’s not the case for all. Enterprises and cloud services are recruiting more. I believe it’s a natural shift as demands in some sectors go down, others will experience an uptake.” she said.

“To some extent, the market is saturated but only for those basic and highly replaceable positions. High-end talents with an annual salary of over 300k million RMB will find their ideal positions within five days after their resumes are being posted on our platform.”

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Emma Lee

Emma Lee is Shanghai-based tech writer, covering startups and tech happenings in China and Asia in general. We are looking for stories related to tech and China. Reach her at lixin@technode.com.