Young leaders flock to domestic companies

Multinationals are continuing to lose out to local companies when it comes to securing high-quality professionals in China, especially amid domestic tech firms' surging success, according to the 2018 China Leadership Report.

"Local Chinese companies are redefining our entire thinking of the talent market as they continue to attract leaders due to their experience, salary, training and opportunities, which go hand-in-hand with their fast-growing operations and opportunities," said James Root, a partner at global consultancy Bain and Co, and co-author of the report.

In the past five years, roughly 40 percent of business leaders, at director level or above, who began a job at a local company moved there from a foreign enterprise, according to the report conducted by Bain and professional networking site LinkedIn China.