18,000 Chinese Employees Will Be Hired By Suguo This Year
Jiangsu-based supermarket chain Suguo plans to hire 18,000 new employees in 2012 to meet its development and growth needs.
Ma Jialiang, chairman of Suguo, told local media that in recent years, Suguo has made great efforts in creating working opportunities, increasing employee salaries, food safety, and maintaining price stability. In 2011, the company realized sales of CNY42 billion and its owned stores saw year-on-year increase of 20%. Meanwhile, it provided 12,000 jobs and the income of its employees increased by 15% on average.
In the next three to five years, Suguo plans to open over 1,000 new owned stores, covering more than 200 cities and counties in Jiangsu, Anhui, and Hubei; and it aims at overall sales of CNY60 billion. For the year of 2012, Suguo will accelerate its expansion, which is expected to bring 18,000 new jobs, said Ma.
According to Suguo, the recruitment this year will have some new changes. Apart from offering a large number of grass-roots positions, the company has launched a talent upgrade plan to train medium- and high-level executives. Of all the 18,000 new jobs, about 1,000 will be reportedly open to university graduates.
Shanghai cross-border yuan trade expands
MORE market players are joining the cross-border yuan business in Shanghai and the People's Bank of China will further expand the business to bolster the city's real economy, the central bank said yesterday.
In Shanghai, 5,175 companies had used the cross-border yuan trade settlement program by the end of 2011, with 58 banks offering settlement services, the Shanghai headquarters of the PBOC said yesterday.
"The cross-border yuan business benefited companies, added a new profit contributor to banks and made the financial market more open and market-driven," it said, adding that the yuan business also generated more services and products to help the financial industry serve the real economy.
The cross-border yuan trade settlement program was launched to help firms duck foreign exchange risks, which cover different lines under the capital account, including direct investment in yuan, yuan-backed guarantee for overseas projects and issuance of yuan bonds offshore, the PBOC said.
The value of Shanghai's cross-border yuan settlement in 2011 alone more than quadrupled the previous total, and the city aims to further expand in this sector as part of its goal to becoming a global financial center by 2020. Last year, cross-border yuan settlement in the city topped 330 billion yuan (US$ 52.4 billion), or 16 percent of the country's total. The amount was up from the 74.3 billion yuan accumulated from July 2009, when Shanghai launched the business, through the end of 2010.
"We will regulate and expand the business with better services to support the economic growth of Shanghai this year," the central bank said.
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