Billionaire telecoms and IT investor Denis O’Brien has revealed a €30m investment in ChinaHR, the China-based online recruitment business he owns with Leslie Buckley.
The investment will lead to further development of the company’s technology and the recruitment of senior Chinese talent.
Richard Bruton TD, Minister for Jobs, Enterprise and Innovation, announced the investment at the China-Ireland technology summit in Beijing.
There is a significant opportunity to further capitalise on the use of technology in China. The number of workers in China, which has a population of 1.3bn, is 700m. Of those at work, some 300m search for jobs online.
The vast majority of internet users are in the target 20-34-year-old age bracket, accounting for 80pc of online activity. The adoption of mobile phones in China further underpins the opportunity in the market for ChinaHR to provide enhanced mobile recruitment solutions.
There is mobile penetration of 93pc in China, with smartphones accounting for more than 50pc of the mobile sector.
ChinaHR recently recruited senior personnel who will drive the strategic development of the business over the long term. These senior roles include a chief technology officer, commercial product director and a chief marketing officer.
Largest Irish-owned employer in China
Overall, ChinaHR employs in excess of 2,600 people, making it the largest Irish-owned employer in China.
“The Chinese economy is still strong, growing at approximately 7pc per annum,” said Leslie Buckley, chairman of ChinaHR.
“This is good news for ChinaHR, as we continue to develop the future growth of the business. Our latest investment will continue to strengthen Ireland’s business relationship with China, as well as contributing towards the further development of a leading-edge online recruitment offering for China.”