Recruiting in China

The annual college graduates job-hunting fair has also opened in Nanjing of Jiangsu Province. Over 42,000 employment opportunities from nearly 1,000 companies are being offered at the event. Figure show, that Jiangsu Province will have a record high of 532,000 fresh college graduates this year. But the event participating companies is only offering 3 percent more jobs compared with a year ago.

In order to get employed, many graduates have lowered their expectations for salaries. Experts say, one of the best ways to boost the employment rate is to improve program designs at universities.

Wang Shufeng, Head of Student Enroll of China Institute of Industrial Relations said "Previously, our graduates could not find a suitable position even after taking 10 job interviews. After some research and study, we realized that our school program and training designs should meet the real social human resource demand. So now, 90 percent of our students today could seal a employment contract before official graduation ceremony."

Professor Cheng Yanyuan, School of Industrial Relations & HR, Renmin University said "Professional schools at high education institutions should focus on the areas they are good at. They should be able to provide professional talents in specific fields. Program designs at big universities should also have some adjustments to emphasis their unique characteristics. "

HONG KONG, Nov. 17 (Xinhua) -- Hong Kong's unemployment rate for the three months ended October fell slightly to 5.2 percent, the Census and Statistics Department of the Hong Kong Special Administrative Region (HKSAR) government said Tuesday.

The unemployment rate in the three-month period ended September, in comparison, was 5.3 percent, while that in the three-month period ended August was 5.4 percent.

Decreases in the unemployment rate were mainly observed in the construction, food services, insurance and wholesale sectors, the department said.

The Labor and Welfare Department said the further decrease reflected that the labor market has continued to show signs of improvement along with economic recovery.

"In particular, the unemployment rate of youths aged 15 to 19 dropped notably by 3 percentage points to 22.7 percent, indicating that the youth employment situation is gradually improving," Secretary for Labor and Welfare Matthew Cheung said.

"It is clear that the (HKSAR) government's all-out efforts to create jobs in the construction sector are continuing to bear fruit," he added.

Cheung said the near-term outlook would depend mainly on the pace of the economic recovery and job creation.

"As business conditions continue to improve, employers are expected to adopt a more positive attitude towards new hiring. This will ease the pressure on unemployment," he said.

Nevertheless, Cheung said the decrease in total employment in the latest round of figures suggested that it might take some time for the labor market to keep up with the pace of economic rebound.

"A sustained and solid recovery still hinges on a fundamental improvement in the external environment. We will remain vigilant and continue to monitor closely the labor market situation," he said.

MACAO, Nov. 19 (Xinhua) -- The median monthly employment earnings of the employed population in Macao amounted to 8,500 patacas (1,076 U.S. dollars) in the third quarter of this year, the same level as that of the second quarter, according to the figures released Thursday by the city's Statistics and Census Service (DSEC).

The figures showed that the median monthly employment earnings of the employed residents held stable as the previous quarter in the period, at 10,000 patacas (1,265 U.S. dollars).

Total labor force in Macao stood at 328,000 in the third quarter, with 316,000 being employed. Analyzed by industry, the majority of the employed were engaging in recreational, cultural, gaming and other services (23.2 percent) and hotels, restaurants and similar activities (14.1 percent).

Meanwhile, the unemployed population was 12,000 in the period, of which 82.4 percent were searching for a new job, while 17.6 percent were fresh labor force entrants searching for their first job. With regard to the educational attainment, 34.6 percent of the unemployed had primary education or lower, 29 percent had junior secondary education and 19.8 percent had senior secondary education, according to the DSEC.

By James A. White

The global drug industry’s long push into China continued today, as Novartis said it plans to spend $1 billion to expand its R&D center in Shanghai. Dow Jones has the details.

CEO Daniel Vasella said the company’s Shanghai work force will grow from 160 to about 1,000, putting it on par with Novartis’s research center in Cambridge, Mass. Novartis’s Basel research center will remain the largest for the Swiss company, which spent $7.2 billion on R&D last year.

“I think it will be a signal of China’s rising importance in the pharmaceutical industry,” Vasella told Dow Jones during a visit to Beijing, where the investment was announced. “You have to ask yourself where do you need to be down the road, and clearly it is here.”

Drug manufacturing has been shifting to China for a long time. More recently, U.S. and European companies have begun expanding their R&D operations there as well, as we noted last year when Genzyme said it planned to spend $90 million on an R&D shop in Beijing.

And as Eli Lilly reminded us recently, companies continue to hire in China and other emerging markets, even as they cut positions in the U.S. and other established markets.

China Update: Novartis said today it plans to buy 85% of a closely held Chinese vaccine maker for $125 million if Chinese authorities approve the deal. Dow Jones Newswires notes in its story that China is the world’s third-largest vaccine market.

Microsoft announced it is cutting its global workforce again. The company says in a report that it will cut a further 800 jobs in various departments worldwide, bringing the number of jobs axed to 58 hundred, 800 more than the target announced this year.

Chen Ranfeng, the spokesman for Microsoft China, says that the China branch is not included in the cutbacks.

Microsoft announced early this year that it would cut 5 thousand jobs by June 2010, which is the biggest job cutting move since Microsoft was founded 34 years ago.

Microsoft says that it will continue recruitment in some key fields, but it didn't mention whether it would further cut the workforce in near future.

China Career Builder Corp., ("The Company or CCB") (PINK SHEETS: CCBX) a Delaware Corporation, is focused on outsourcing human resource services and staffing services in Hong Kong, China. Today, the company is pleased to announce has signed a Letter of Intent to acquires 49 percents of Issac Search Ltd of Hong Kong. This acquisition is consistent with the company's Strategic Business Plan, designed to build enterprise value through organic growth and select acquisition opportunities. The company is expected to complete satisfactory due diligence in the next Three (3) weeks, and complete the acquisition by the end of Q4, 2009 or early Q1 2010.

"We have been selectively considering strategic alliance or acquisition candidates for some time to achieve CCB's strategic vision. We are confident this acquisition with Issac Search Ltd enhances that vision and provides the elements required to expedite our business model," added CCB's President, Mona Yim.

ABOUT THE COMPANY

China Career Builder Corp. (The Company) through its subsidiary Asian Career Company Ltd. provides outsourcing human resource services and staffing services in Hong Kong, China. The company provides recruitment services focusing on the professional, management, clerical, administrative, IT and industrial market. Its services include screening, recruiting, training, workforce deployment, loss prevention and safety training, pre-employment testing and assessment, background searches, compensation program design, customized personnel management reports, job profiling, description, application, turnover tracking and analysis, opinion surveys and follow-up analysis, exit interviews and follow-up analysis, and management development skills workshops. The company markets its recruitment services through a combination of direct sales, telemarketing, trade shows, and advertising. The company incorporated in Delaware, headquartered in Hong Kong, China.

For further information please refer to the Company's website at www.ChinaCareerBuilder.com

If you would like to receive regular updates on China Career Builder Corp. please send your email request to info@ChinaCareerBuilder.com or contact the company's Investor and Public relations at ir@ChinaCareerBuilder.com .