Chinese employees seeking new jobs plunge 39% in 3Q16

And jobs climbed 14%.

In China, Q3 was spent filling jobs with those who had registered their interest to move roles in Q2, contributing to the 14% increase in jobs.

According to a research note from Morgan McKinley, it also contributed to a 39% decrease in professionals seeking new roles, quarter-on-quarter.

As the financial sector in China gives bonuses in Q1, it is standard to see the bulk of professionals looking for a new challenge register with recruiters in Q2.

Here's more from Morgan McKinley:

Signalling an ebb in the Chinese gold rush, overseas businesses are showing less enthusiasm in setting up shop there. This trend is reflected in a new report by the China Sales Manager Index which found that the Chinese economy is growing at only half of the projected rate of growth.

The creation of a large amount of high net worth individuals means financial services are shifting their focus to domestic revenue sources, as opposed to international ones. Indeed, it is Chinese investors who are driving the fintech investments in the APAC region.

China, however, is not showing signs of looking exclusively inward. It was unaffected by the Brexit vote, and the China Securities Regulatory Commission is in negotiations for a bi-national financial services framework with Britain's Financial Conduct Authority.

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