Today: 29 October 2025
21 March 2022
2 mins read

Jobs market severely hit by China’s tech crackdown

The tech sector in the past decade has been one of the strongest job-creating sectors in the world’s second-largest economy….reports Asian Lite News

China’s tech crackdown has adversely affected the jobs market amid economic headwinds laden with stories about frozen headcounts and lay-offs.

China’s year-long campaign to clip the wings of the country’s Big Tech sector has taken a heavy toll and is now casting a long shadow over the employment market, reported think-tank Policy Research Group POREG.

Over the past year, China has launched a relentless crackdown on big tech firms, with a raft of new regulations aimed at curbing consumer rights abuses, monopolistic market practices, breaches of consumer data privacy, protecting minors from gaming addiction and curbing content deemed socially harmful – among other things. Most of this has been carried out under the banner of “curbing the irrational expansion of capital”.

However, it is now clear that this campaign is impacting the jobs market, reported POREG.

The tech sector in the past decade has been one of the strongest job-creating sectors in the world’s second-largest economy.

The destruction of tech-related jobs from content creation to private tutoring is translating into fears of a jobless wave, reported POREG.

Around 10 million fresh graduates will enter the job market this summer, adding to China’s growing army of young jobseekers, at a time of mounting economic headwinds amid the Ukraine crisis and another COVID-19 surge in the country.

This is threatening long-term government strategies, such as “dual circulation” – the concept of driving economic growth mainly via domestic demand to offset an uncertain and potentially hostile external environment.

The massive job cuts at Big Tech companies could bring significant economic instability, as the digital economy has taken up a greater proportion of China’s GDP in recent years, said Wang Peng, an associate professor at the Renmin University of China.

An earlier report published by Chinese recruitment site Zhaopin.com found that half of the people surveyed said their company had laid off staff in 2021 while a quarter said they were directly affected.

The country’s two most-valuable Big Tech firms, Alibaba Group Holding, which had over a quarter of a million employees, and Tencent Holdings, which had 107,000 employees, are said to be in the process of slashing thousands of jobs, reported POREG. (ANI)

ALSO READ: Will Wang Yi’s visit ease India-China tensions?

Previous Story

Saameynta to reboot Somalia

Next Story

Ex-minister urges Afghans to return home

Latest from Asia News

Gazans Struggle to Revive Life

Today, Gaza’s markets seem to awaken from beneath the ruins. Partially destroyed shops opened their doors amid streets littered with debris, while merchants attempt to arrange what remains of their goods on

GAZA AID: MSF raps Israel

Doctors Without Borders (MSF) says Israel Continues to Use Aid as a Weapon of War Against Gaza Strip…reports Asian Lite News Doctors Without Borders (MSF) said that despite the ceasefire agreement, Israel

World Court slams Israel

The International Court of Justice says Israel must uphold human rights and ensure humanitarian aid reaches Palestinians, adding moral pressure on Tel Aviv amid Gaza’s worsening crisis….reports Asian Lite News The International

Arab world blasts Israel’s annexation bid

Arab and Muslim nations unite to denounce Israel’s West Bank annexation bills, citing international law and ICJ rulings, as Israel freezes legislation amid global diplomatic pressure. A broad coalition of Arab and

Clearing A Mess in Gaza

Municipalities across Gaza have mobilized their limited resources to clear streets and set up temporary shelters for thousands of displaced families…reports Asian Lite News The conflict has left behind an estimated 55
Go toTop

Don't Miss

LAC sees ‘slight increase’ in number of Chinese troops

Army Chief also stressed on the need to ‘remain alert’,

China arrests priests on charges of ‘brainwashing’

The incident was reported by International Christian Concern (ICC), which