Decline in Workforce: China's Finance and Real Estate Sectors Face Significant Shrinkage

January 3, 2025 - 02:11

Recent economic census data reveals a troubling trend in China's financial and real estate sectors. As of the end of 2023, the finance industry has experienced a drastic reduction in its workforce, with employment figures plummeting to 12.4 million. This marks a staggering 32% decrease compared to 2018. Similarly, the real estate sector has not been spared, as the number of employees in this field has decreased by 27%, resulting in a workforce of only 2.7 million.

These figures highlight the ongoing challenges faced by these industries, which have been grappling with various economic pressures and regulatory changes. The decline in employment not only reflects the current state of the economy but also raises concerns about the future stability and growth potential of these critical sectors. As China continues to navigate its economic landscape, the impact of these workforce reductions will be closely monitored by analysts and stakeholders alike.