China is bombarding tech talent with job offers. The West is freaking out.
Mint Mumbai|November 28, 2024
Chinese firms are offering to triple engineers' pay as they try to catch Silicon Valley and other hubs in a battle for tech supremacy
Bertrand Benoit, Liza Lin, Heather Somerville & Kim Mackrael
China is bombarding tech talent with job offers. The West is freaking out.

Executives at Zeiss SMT, which makes indispensable components to build the world's most powerful semiconductors, got some troubling news last fall. Headhunters from Huawei Technologies, the Chinese tech firm, were trying to poach its employees.

Staff with access to sensitive Zeiss know-how received LinkedIn messages, emails and calls from Huawei representatives, offering them up to three times their salaries to join the Chinese company, according to people with knowledge of the situation.

The push triggered an investigation by German intelligence officials, who feared it could provide a back door for Huawei to access some of the world's most sophisticated intellectual property. The investigation remains open, people familiar with the matter say.

It was the latest sign that talent poaching has become a crucial front in the battle between China and the West for tech supremacy.

As Western governments make it harder for China to access sensitive technologies—a trend expected to continue under the administration of President-elect Donald Trump—many Chinese companies are trying to get ahead by luring away top engineers in areas such as advanced semiconductors and artificial intelligence.

Chinese firms are focusing on several tech hubs, including Taiwan, parts of Europe and Silicon Valley. Some obscure their Chinese origins by forming local ventures that hire the employees to avoid drawing attention from local officials, authorities say.

The push is forcing officials in the U.S. and Europe, many of whom view recruiting as an ordinary business activity that shouldn't be restricted, to confront whether they need to do more to police the practice, and if so, how.

Taiwan, which already has strict rules on Chinese recruitment, said in September that it had launched a crackdown, accusing eight mainland Chinese tech companies of illegally poaching talent from the island, threatening Taiwan's competitiveness.

Bu hikaye Mint Mumbai dergisinin November 28, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

Bu hikaye Mint Mumbai dergisinin November 28, 2024 sayısından alınmıştır.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MINT MUMBAI DERGISINDEN DAHA FAZLA HIKAYETümünü görüntüle
GDP growth falters in Q2, hopes pinned on 2nd half
Mint Mumbai

GDP growth falters in Q2, hopes pinned on 2nd half

GDP growth of 5.4% was the lowest in nearly two years, lower than estimates

time-read
3 dak  |
November 30, 2024
Aster DM merges with Quality Care in $5-billion deal
Mint Mumbai

Aster DM merges with Quality Care in $5-billion deal

Bengaluru-based Aster DM Healthcare on Friday announced a merger with Blackstone-backed Quality Care India Ltd (QCIL) in a deal that will value the combined entity at $5.08 billion (₹43,000 crore).

time-read
2 dak  |
November 30, 2024
AIFs, equities pip realty in family office funding
Mint Mumbai

AIFs, equities pip realty in family office funding

What's Ahead for Family Offices?

time-read
2 dak  |
November 30, 2024
Defence contracts emerge as key biz for telecom infra makers
Mint Mumbai

Defence contracts emerge as key biz for telecom infra makers

India's push for local manufacturing has prised open a new business frontier for domestic telecom equipment manufacturers.

time-read
2 dak  |
November 30, 2024
HUL turns to high-growth segments to lift demand
Mint Mumbai

HUL turns to high-growth segments to lift demand

Premium is the watchword for packaged consumer goods major Hindustan Unilever Ltd (HUL), as it unveiled a new strategy on Friday to ride on an expected rise in household income and increasing consumer preference for more expensive brands and products.

time-read
2 dak  |
November 30, 2024
Russia's war economy shows new cracks after ruble plunges
Mint Mumbai

Russia's war economy shows new cracks after ruble plunges

The Russian economy, surprisingly resilient through two-plus years of war and sanctions, has suddenly begun to show serious strains.

time-read
4 dak  |
November 30, 2024
Colgate making right moves, but valuation a concern
Mint Mumbai

Colgate making right moves, but valuation a concern

Colgate Palmolive (India) Ltd has had a good run in recent quarters and continues to make efforts to boost growth.

time-read
2 dak  |
November 30, 2024
Kalyani family's wealth war takes a fresh turn
Mint Mumbai

Kalyani family's wealth war takes a fresh turn

Gaurishankar Kalyani has filed papers to back his claim that HUF exists

time-read
2 dak  |
November 30, 2024
Mint Mumbai

Zomato raises ₹8,500 crore via QIP

A big part of the proceeds is to be used to expand Zomato's quick commerce arm Blinkit

time-read
1 min  |
November 30, 2024
Fintech startup Klub halves workforce
Mint Mumbai

Fintech startup Klub halves workforce

Bengaluru-based financing startup Klub laid off about 60-70 employees in September and paused its commerce operations, according to multiple people aware of the developments.

time-read
1 min  |
November 30, 2024