Background

As is well documented, China's economy is set to continue growing at an unprecedented rate with projected GDP growth of 9.2 percent in 2006 according to the World Bank's China Quarterly Update.(1) There is a burgeoning and increasingly wealthy middle class as reflected in booming car sales, (Chinese passenger car sales grew by 39.1% in April, according to data released by the Chinese Association of Automobile Manufacturers), and extravagant, celebrity fuelled flag ship store openings for luxury brands are a regular occurrence.(2) This staggering pace of development and China's rise to be the world's 4th largest economy means that companies from all around the world are wanting a piece of the action. Shanghai is already home to more than 60 regional headquarters for established multi-national companies (MNC's), with more arriving every day.(3) In addition, small and mid-sized companies (US$30 million to US$50 million) are setting up commercial operations in Shanghai and surrounding areas.(4)

This means that in China's aggressive business environment, the hunt for the best and the brightest talent is on the minds of many CEO's, HR Directors, Managing Directors and General Managers. People are a vital asset to grow and prosper here in China.

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