Communist leaders want to build up 30 to 50 state companies as national champions in fields from oil to banking to airlines. Some are among the biggest in their global industries due to their protected position in China’s huge market but authorities acknowledge they lag behind foreign rivals in skills and efficiency.
State industries have hired managers from abroad but Monday’s announcement by the Cabinet agency that runs China’s biggest state companies was the most high-profile recruitment effort to date.
The State Asset Supervision and Administration Commission wants (SASAC) “candidates from home and abroad” to help strengthen companies, said a two-page advertisement in the China Daily, the main government newspaper aimed at foreign readers. Jobs advertised Monday included general managers of the State Nuclear Power Technology Corp., the China State Construction Engineering Corp. and automaker Dongfeng Motor Corp., the local partner of Nissan Motor Co. Some said Chinese citizens were preferred, indicating companies want Chinese-born executives working abroad or at foreign companies in China. Others said they would consider managers of any nationality. Last year, a major aerospace firm, state-owned Aviation Industry Corp. of China, announced a worldwide campaign to recruit managers and said it would consider foreigners. After a six-month search, AVIC hired six Chinese executives.
SASAC oversees 123 companies including China Mobile, the world’s biggest phone carrier by subscribers, Bank of China Ltd. and China Life Insurance Co. PetroChina is the world’s No. 2 company by market value behind Exxon Mobil Corp. and Industrial & Commercial Bank of China Ltd. is the biggest commercial lender by market value. Other jobs advertised Monday included general manager of Chinatex Corp., a major textile producer; deputy general managers at China National Administration of Coal Geology, China National Gold Group Corp. and China Guangdong Nuclear Power Holding Corp. and other jobs at China Shipping (Group) Co., China Resources (Holdings) Corp. and China National Building Material Group Corp.
