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China is hoping to attract expats with assurances of better pay and chances of promotion, making Beijing and Shanghai hotspots. These terms have been set up to outweigh some of the country’s cons such as rapidly rising air pollution and a reputedly slowing economy.
Incentives such as a salary growth surpassing that found both in Hong Kong and Singapore is needed when regarding the poor expat healthcare and the overall sporadic nature of China’s healthcare system which does not offer cover to everyone. It does not cover all the costs for those who are qualified. All in all, it is as varied as the vast country and is difficult to understand.
The competition between Shanghai and Hong Kong is heating up and the gap between the pay rates is said to be narrowing. In fact, Shanghai is often regarded as the place to be for opportunities of career advancement. This may be due to the fact that there is a shortage of skills within certain industry sectors. The main one is the financial sector which of course, is vital for the country’s future economic growth.
There are array of other fields for which the demand of expats ranges over. Experts in geology for example, are being sought after as a result of China’s ageing oil fields and this is why a growing number of firms are offering employees perks such as expatriate health insurance and bonuses.
It is likely that most expats will need some form of international health insurance if moving to Asia, despite the fact that the bigger cities like Shanghai and Beijing have hospitals that are very similar to those found in the West. In areas that are more remote, the difference is stark. Although traditional Chinese remedies are giving way to western medicines, being covered by global expat health insurance means less worry in case something does go wrong as well as less stress over the financial consequences.
The overall allure of the vibrancy of the country with its interesting juxtaposition of the ancient and the new is still there. Working in such a place would be extraordinary and with expatriate medical insurance covering the majority of cases in rural areas or adding extra cover the overall good quality care in the cities, you can grasp what the country has to offer.
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Expatriate Group & Expatriate Healthcare are trading styles of Strategic Insurance Services Limited who is authorised and regulated by the Financial Conduct Authority (FCA). FCA Firm reference Number is 307133. Strategic Insurance Services Limited is authorised to carry on Regulated Activities in accordance with the permissions granted by the FCA under PART IV of the Financial Services and Markets ACT 2000.