Chinese executive pay rates 'becoming more competitive'

Expat executives working in China are finding that salary rates are becoming increasingly favourable in recent years.

This is according to a new report from the Association of Executive Search Consultants, which states that positive growth in the local economy, combined with accelerated decision-making processes, are helping to make China more attractive to foreign staff.

Around 70 per cent of executive respondents to a recent survey said pay rates in China have improved in the last five years, while almost 90 per cent said they wish to stay in the region for more than three years.

Peter Felix, president of the AESC, said there is fierce competition for top talent across the world, but noted that conditions in China combine a lack of executives with a booming economy.

"We are much impressed by this result. It indicates that the senior executives find working in China enjoyable, interesting and well paid," he said.

This comes after a Mercer report from earlier this year showed that executive pay rates are on the increase across Asia Pacific.