(Yicai Global) Feb. 20 -- Companies are offering astronomical salaries to lure top-flight talent in China, as demand for such workers remains high, according to a report released by a human resources company.

If professionals in related industries jump ship, they can enjoy an average salary increase of about 20 percent, with high-end technical talent looking at a gain of as much as 50 percent, the report by Career International said today, citing the new energy vehicle sector as an example.

In the green finance sector, the increasingly mature carbon emission trading and green financial products have driven the development of talent in related industries. And new energy investment general managers and those in other top positions can get an average 25 percent raise in salaries.

In addition, there is a shortage of talent in the integrated circuit industry and chip design, with salaries in the field growing steadily this year. Salaries of some positions in the infrastructure area, such as project managers for major metro, water conservancy and hydropower projects, generally see increases of more than 20 percent, the report showed.

A Hong Kong-listed company based in eastern Shandong province said that the biggest challenge at present is the lack of high-end professionals. Its boss told Yicai Global that to attract high-end technical talent, the firm has sweetened working conditions by, for example, supporting the employee’s children to study abroad, but the results have not been positive.

The report showed that as a result of China’s carbon neutrality and carbon peak goals, related industries have developed rapidly and bring huge room for growth.

Also, amid an accelerating trend to expand overseas, a slew of firms in the new energy sector, games and other industries has ventured abroad. In order to seize this important window of opportunity, firms urgently need to life their competitiveness through talent acquisition.

The cities of Beijing and Shanghai as well as Guangdong provinces and other places in China have also launched many new measures to attract and support talent, according to the 2023 government work reports of 31 provinces.

Editors: Shi Yi, Peter Thomas