Chinese women bolster GDP
Contribution highest in the world, says report
Chinese women’s desire for independence and their sound educational status is making them active and important participants in the workplace in China.
The rate of Chinese women’s participation in the labor force is currently 63.3 percent, higher than the average of 57 percent in Organization for Economic Cooperation and Development countries, and higher than the average of 62 percent in Asia-Pacific countries and regions, People’s Daily reported on Thursday, which was International Women’s Day, citing a report jointly released by Lean In China and consulting firm Deloitte.
The report also said that Chinese women contribute more to their country’s GDP than in any other country or region, with the figure standing at 41 percent.
“Mothers have to be the model for their children. My son is only 4 years old, and I want to show him what I want him to be in the future. That’s why I have my own business instead of accompanying him at home,” said Qi Feng, CEO of FM Aviation Technology.
Qi started her business in the aviation industry three years ago.
She told the Global Times on Thursday that, as a woman, it’s also important to disregard gender stereotypes and women should focus more on chasing their dreams and entrepreneurship capabilities.
“Women also have advantages. Men may not appreciate you in the beginning in a male-dominated industry like aviation, but with the deepening of communication, they will respect women’s opinions more. So I think this is the best era for women to work,” she said.
Another woman named Zhang Can, a resident of Shijiazhuang, capital of North China’s Hebei Province, told the Global Times on Thursday that although her husband is a senior company executive and earns a lot, she also works hard at her job.
“Working can separate me from my boring housework and enrich my life,” Zhang said.
Romy Haryanto, a 32-year-old Indonesian man who hopes to find a job in China, told the Global Times that he wants to marry someone from the Chinese mainland or Hong Kong because “women in Hong Kong are as independent as women in the mainland.”
According to a report Chinese ridehailing firm Didi Chuxing sent to the Global Times on Thursday, nearly 2.3 million women drivers and car owners in China drive for the company, approximately 80 percent of whom are mothers of one or two children aged under 18 years old.
Independence drive
Chinese women have a strong sense of independence, economic independence in particular. Therefore, most Chinese women have jobs, with some faring better than men in many industries.
Meanwhile, Chinese career-women perform better in terms of emotional intelligence and ambition, with 78 percent of women aiming to enter the management level of their company or institution, the report from Lean In China and Deloitte showed.
“The greater the level of a company’s digitization, the more likely it is that women can devote time and energy to it,” the report said.
But, when it comes to promotion, women face greater challenges than men. As such, the report calls on companies to create more job roles and promotions that specifically fit women’s career development characteristics.
Data from Beijing-based consulting firm Grant Thornton has showed that the number of women in senior executive roles in emerging economies is on the rise, with the ratio of female senior executives in the Asia-Pacific region now standing at 23 percent.
It’s also worth noting that the ratio of female deputies at the ongoing 13th National People’s Congress (NPC) reached a record high of 24.9 percent, 1.5 percentage points higher than the figure recorded at the 12th NPC.
“Men may not appreciate you in the beginning in a maledominated industry like aviation, but with the deepening of communication, they will respect women’s opinions even more.” Qi Feng CEO of FM Aviation Technology
China led the list of global selfmade women billionaires in US dollar terms this year with 64 women, representing 63 percent of the total number around the world, according to a report research firm Hurun Report sent to the Global Times on Thursday to mark International Women's Day.
The number of Chinese women billionaires was also ip by 8 from last year, the report noted. A total of 102 global self-made women billionaires were listed in
the report, up 14 from 2017.
“About 30 percent of the most successful male entrepreneurs in the world are Chinese, and when it comes to women, the percent jumped to 60 percent … Chinese women entrepreneurs are twice as ‘successful’ as their male counterparts,” Rupert Hoogewerf, chairman and chief researcher of Hurun, was quoted as saying in the report.
Among the top 10, half of the billionaires were from China, with Zhou Qunfei, 49, founder of Shenzhen-based electronics maker Lens Technology, topping the global list. Her assets were valued at 61.5 billion yuan ($9.70 billion), up 45 percent from 2017.
Zhou is also, for the first time, a member of the 13th National Committee of the Chinese People’s Political Consultative Conference this year.
Zhou is followed by the chairman of property developer Longfor, Wu Yajun, 54, with assets of 58.5 billion yuan, up 83 percent year-on-year. She ranked No.2 in the global list.
Third place goes to Chen Lihua, 77, with assets totaling 51 billion yuan. Chen is the chairman of developer Fuwah International Group, and she was ranked first in Hurun’s global self-made women billionaires list last year.
The other two Chinese women in the top 10 are Nine Dragons Paper’s President Zhang Yin and AAC Technologies’ chairman Wu Chunyuan, with assets standing at 47 billion yuan and 31 billion yuan, respectively.
In the past five years, the most successful global women entrepreneurs came from three sectors, which are manufacturing, property and technology.