Wednesday, March 02, 2005

Chinese Online Recruitment Market Booming:,, 51job

From Online recruitment market booming

"As people wondered which international big name would be the next to come to the world’s second-largest market in terms of the number of netizens, US online job search giant Monster Worldwide Inc announced on February 2 that it had acquired a 40 per cent stake in the Beijing-headquartered counterpart Holdings Ltd for US$50 million, thus becoming the first leading Internet firm to enter the Chinese market in 2005. Monster’s move makes sense, as the online job recruitment business has become a new bright spot in China’s Internet industry since last year, following search engines, online travel services, online shopping, and instant messaging."

"Shanghai iResearch Co Ltd, a professional Internet industry research house, estimated that revenue from the online recruitment market in 2004 reached 550 million yuan (US$66.43 million), a year-on-year increase of 77.4 per cent."

"Like many other emerging businesses, the fast growth of online job recruitment is also accompanied by another characteristic - many players and no dominant leaders. According to iResearch, the top three firms in the market - Shanghai-based 51job, ChinaHR and Zhaopin, only took 46 per cent of the entire pie, with a further 1,000 firms competing for the rest." Read more


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