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This $20 billion Chinese tech giant empowers female leaders

Brian Sozzi

Ctrip CEO Jane Sun has made championing female leaders inside her company a top priority since she joined as CFO back in 2005.

Doing so has been instrumental in Ctrip (CTRP) retaining the top female tech talent that has powered the largest online travel agent in Asia to a close to $20 billion market cap. “When a female is pregnant we offer a taxi for free. When the baby is born, we give them an $800 welcome gift and $3,000 as an education fee,” Sun explained in an interview on Yahoo Finance’s The First Trade.

“When they come back to the company we offer flexible working hours,” Sun added. “And recently, we noticed a lot of female employees are getting their Masters and PhD degrees overseas and when they came back, they struggled on whether to have families first or work first. So as a company we have a policy that if they decided to have their eggs frozen, Ctrip would pay for it.”

Ctrip is the only company in China that offers fully paid egg freezing for females, according to Sun.

To be sure, many U.S. companies could learn a lesson or two (or twenty) from Sun’s actions to promote female leaders. That most notably extends to many tech companies in Silicon Valley, which have become synonymous with less than ideal working conditions for men and women with families.

Travel services company CEO of Ctrip Jane Jie Sun Jie speaks during an interview with AFP in the facilities of Ctrip in Shanghai on April 26, 2019. (Photo by HECTOR RETAMAL / AFP) (Photo credit should read HECTOR RETAMAL/AFP/Getty Images)

Ctrip has the financial backing to undertake such employee investments. The China-based company is profitable and has guided to 10% to 15% sales growth in the third quarter. Ctrip has made a series of strategic investments under Sun that has seen the company expand into new markets in India and the U.K.

Meanwhile, the company has gotten into the ride-hailing business to help offer more services to travelers — it now has ride-hailing deals with Lyft, Grab, Careem and others. In total, Ctrip’s ride-hailing services now touch 785 cities in 47 countries.

Ctrip’s stock has dropped by 6% in the past year, however, amid concerns on slowing China growth. The Nasdaq Composite — which Ctrip is a member — has gained 8% in the last year.

Brian Sozzi is an editor-at-large and co-anchor of The First Trade at Yahoo Finance. Follow him on Twitter @BrianSozzi

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