What jobs crisis? Top Chinese regulator says tech is booming
CNN
One of the regulators behind China's dramatic crackdown on private enterprise has tried to quell growing concerns about the impact on employment, saying the country's biggest tech companies have added nearly 80,000 jobs since July and are "full of confidence."
In a rare, direct response by a top government agency to fears of a jobs crisis, the Cyberspace Administration of China said Friday that the country's 12 tech giants hired more workers than they lost in the past nine months. It cited recent "heated public discussion" about reports of "large scale layoffs" at the large internet companies.
The CAC said it had recently spoken with A-list tech companies such as Alibaba (BABA), Tencent (TCEHY), Bytedance, JD.com (JD), Pinduoduo (PDD), and Ant Group. At these companies, 216,800 people had left their jobs between July and mid-March, while 295,900 people were hired during the same period, the survey found.
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