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A Large Wave of Government Officials Seen Leaving the Public Sector

Well-known Chinese news site Sina recently reported that a large number of people who serve in government positions are looking for jobs in the private sector. As an example, in a three week period, a Beijing-based online job site saw over ten thousand government officials posting their resumes looking for private sector positions. The actual number of government officials accepting private sector offers saw a year-over-year increase of 34 percent. Many analysts marked the recent anti-corruption movement as the top reason for this new wave of job movements. The “gray income” outside the normal government payroll has shrunk significantly. Many government officials saw an instant decline in personal income. As a result, the government job positions suddenly became less attractive. These new job movements are mainly in the industries of real estate, e-commerce, and finance. China has seen this type of wave twice already. The first time was at the beginning of The Reform led by Deng Xiaoping and the second wave was during 2002 to 2003, when China joined the World Trade Organization (WTO).
Source: Sina, April 8, 2015