China had nearly 70,000 human resources service agencies at the end of 2023, employing more than 1 million people and providing services to 331 million workers a year, according to the China Human Resources Service Industry Development Report 2024.

The report, compiled by Chinese Academy of Labor and Social Security along with China Human Resources Industrial Parks Alliance and China International Intellectech Group Co Ltd, was released on Oct 23.

According to the report, the annual revenue of the country's human resources service agencies was estimated to be 2.75 trillion yuan ($386 billion) in 2023, with an average annual growth rate of around 10 percent.

Human resources industrial parks play a crucial role in the concentrated development of the human resources service industry, said the report.

The Ministry of Human Resources and Social Security has approved the establishment of 26 national-level human resources service industrial parks and 36 national-level talent markets.

In 2023, these industrial parks served 62.05 million individuals and provided human resources services to 8.83 million employers.

Over the year, they assisted 19.26 million people with employment and mobility, offered 18.72 million job positions and attracted 310,000 high-level personnel.

The total revenue of the 26 industrial parks in 2023 hit 523.3 billion yuan, with total tax revenue of 13.4 billion yuan, significantly higher than the previous year.

The report said Shanghai's HR service industry leads the country and plays a pilot role.

Currently, there are over 4,000 human resources service agencies in the city, posting a total revenue of over 530 billion yuan in 2023.

Source: Jiemian.com