Report says web firm employees under pressure

Employees in China’s internet firms are working longer hours than their counterparts in financial companies, indicating the heavy pressure in China’s booming internet industry, a report said on Thursday.

The average working time for internet workers exceeds 10 hours per day while financial service employees often leave the office at 5 pm, according to the Smart Transportation Report 2016.

The report was based on data from Didi Chuxing, the largest car-hailing platform in China. The firm claims it operates in 400 cities and has nearly 400 million users.

Financial employees also tend to go to high-end shopping malls to enjoy their nightlife while software developers at internet firms often go directly home, the report added.

In 2016, e-commerce firm JD.com Inc topped the list in terms of working hours among major Chinese internet firms. Its arch rival Alibaba Group Holding Ltd ranked third.

“Last year, China’s e-commerce industry was under mounting pressure. The competition intensified as the economy slowed down and players have stepped up efforts to conduct large-scale promotions,” said Shen Meng,

Last year, China’s e-commerce industry was under mounting pressure.” Shen Meng, director of Chanson & Co

director of Chanson & Co, a boutique investment bank.

Qihoo 360 Technology Co Ltd, China’s biggest internet security company, came second. The report did not offer detailed figures.

“It is natural for us to leave the office at 11 pm, because everything is changing rapidly in the internet sector and we should always be ready,” said Ma Min, a software developer in Shanghai.

The report also said that traffic conditions in China’s major cities improved slightly in 2016. The average car speed in Beijing, Shanghai and other first-tier cities increased 0.7 percent to 24.7 kilometers per hour in 2016.

In contrast, Xi’an, in northwestern China, was the most congested city in 2016, closely followed by the southwestern metropolis of Chongqing.