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Shortage of accountants in China: survey
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There is a shortage of capable accounting professionals in China where accelerating pace of overseas expansion have boosted demand for talents with different set of skills, a human resource survey found.
Half of the 252 respondents who participated in an online questionnaire between April 21 and May 4 said they believed there is a shortage of skilled accounting professionals in China, according to the China Human Capital Survey released yesterday by CPA Australia.
Factors led to the shortage included mismatch in education and demand of employers, the increasing sophistication of local companies and increasing compliance requirements, the survey showed.
Some 26 percent of respondents whose companies have outbound investment said their company have difficulties in recruiting sufficient accountants to support their foreign operation.
“As Chinas economy enters the ‘new normal’, outbound investment and the ‘One Belt, One Road’ initiative will make an important contribution to economic growth and transforming the economy,” said Kenny Lam, president of the East and Central China Committee of CPA Australia.
“It seems that the current supply is insufficient to satisfy this growing demand and the talent challenge that some companies are experiencing will very likely continue and even intensify,” Lam added.
The employment outlook is promising as 45 percent of respondents expected their companies to increase headcount in the next six months due to growth of existing business, demand for employees with new and different sets of skills and knowledge and a need to enter new markets.
The survey also found that social media are increasingly being used by jobseekers with 48 percent of respondents said they used social media for job seeking.
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