BEIJING, Jan. 22, 2017 /PRNewswire/ -- Zhaopin Limited (NYSE: ZPIN) ("Zhaopin" or the "Company"), a leading career platform in China focused on connecting users with relevant job opportunities throughout their career lifecycles, today announced it has partnered with global business, financial information and news leader Bloomberg for the distribution of China employment data.
The agreement makes the CIER Employment Index, a key indicator of China's labor market, available to users of the Bloomberg Terminal. Based on data from Zhaopin's online platform, the quarterly CIER Employment Index is jointly published by Zhaopin and the China Institute for Employment Research ("CIER") at Renmin University.
Tracking the ratio changes between job vacancies and job seekers in a variety of industries and cities across the country, the CIER Employment Index identifies the overall trend in China's employment market.
Launched in January 2011, the CIER Employment Index has become a leading barometer of China's labor market and macro-economic environment, and is a useful reference for government decision-makers, employers and job seekers in the country.
Users of Bloomberg Professional service can now find the Zhaopin CIER China Employment Index in economic data under China's Labor Market hierarchies by different sub-categories, including industries, regions and firm-size. The Zhaopin CIER China Employment Index is available to Bloomberg users in both Chinese and English, and will be updated quarterly.
"We are pleased to make the CIER index available to Bloomberg users," said Mr. Evan Guo, Chief Executive Officer and Director of Zhaopin. "As the most popular career platform in China, Zhaopin provides dynamic and real-time big data on China's labor market. We are leveraging such big data to provide valuable insights into China's labor market."
The CIER index score is calculated by dividing the number of job vacancies during a specified period by the number of unique job seekers during the same period. A CIER index score of more than 1 indicates that the labor market is booming, with more vacancies than job seekers. A CIER index score of less than 1 indicates that the labor market competition is intensifying, with more job seekers than available vacancies.
Zhaopin released the CIER Employment Index Report for the fourth quarter of 2016 last week. The CIER index continued its upward trend and reached 2.41 in the fourth quarter of 2016, up from 2.22 in the third quarter and 1.93 in the second quarter. The rising CIER index indicated that the overall economy and the labor market in China continued to pick up in the fourth quarter.
About Zhaopin Limited
Zhaopin is a leading career platform in China, focusing on connecting users with relevant job opportunities throughout their career lifecycle. The Company's zhaopin.com website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended September 30, 2016, number of registered users as of September 30, 2016 and number of unique customers for the three months ended September 30, 2016. The Company's over 125.2 million registered users include diverse and educated job seekers who are at various stages of their careers and are in demand by employers as a result of the general shortage of skilled and educated workers in China. In the fiscal year ended June 30, 2016, approximately 36.9 million job postings were placed on Zhaopin's platform by 509,813 unique customers including multinational corporations, small and medium-sized enterprises and state-owned entities. The quality and quantity of Zhaopin's users and the resumes in the Company's database attract an increasing number of customers. This in turn leads to more users turning to Zhaopin as their primary recruitment and career- related services provider, creating strong network effects and significant entry barriers for potential competitors. For more information, please visit http://www.zhaopin.com.
Bloomberg, the global business and financial information and news leader, gives influential decision makers a critical edge by connecting them to a dynamic network of information, people and ideas. The company's strength – delivering data, news and analytics through innovative technology, quickly and accurately – is at the core of the Bloomberg Professional service. Bloomberg's enterprise solutions build on the company's core strength: leveraging technology to allow customers to access, integrate, distribute and manage data and information across organizations more efficiently and effectively. For more information, visit http://www.bloomberg.com or request a demo.
Safe Harbor Statements
This press release contains forward-looking statements made under the "safe harbor" provisions of Section 21E of the Securities Exchange Act of 1934, as amended, and the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. Zhaopin may also make written or oral forward-looking statements in its reports filed with or furnished to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Any statements that are not historical facts, including statements about Zhaopin's beliefs and expectations, are forward-looking statements that involve factors, risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Such factors and risks include, but not limited to the following: Zhaopin's goals and strategies; its future business development, financial condition and results of operations; its ability to retain and grow its user and customer base for its online career platform; the growth of, and trends in, the markets for its services in China; the demand for and market acceptance of its brand and services; competition in its industry in China; its ability to maintain the network infrastructure necessary to operate its website and mobile applications; relevant government policies and regulations relating to the corporate structure, business and industry; and its ability to protect its users' information and adequately address privacy concerns. Further information regarding these and other risks, uncertainties or factors is included in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is current as of the date of the press release, and Zhaopin does not undertake any obligation to update such information, except as required under applicable law.
 Zhaopin's website is the most popular career platform in China as measured by average daily unique visitors in each of the 12 months ended September 30, 2016, the number of registered users as of September 30, 2016 and the number of unique customers for the three months ended September 30, 2016.
 A "unique customer" refers to a customer that purchases the Company's online recruitment services during a specified period. Zhaopin makes adjustments for multiple purchases by the same customer to avoid double counting. Each customer is assigned a unique identification number in the Company's information management system. Affiliates and branches of a given customer may, under certain circumstances, be counted as separate unique customers.
 Zhaopin calculates the number of job postings by counting the number of newly placed job postings during each respective period. Job postings that were placed prior to a specified period - even if available during such period - are not counted as job postings for such period. Any particular job posting placed on the Company's website may include more than one job opening or position.
For more information, please contact:
Ms. Daisy Wang
Mr. Edmond Lococo
Phone: +86 10 6583-7510
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SOURCE Zhaopin Limited