(Yicai Global) May 9 -- LinkedIn said the US-based professional networking platform will close down its Chinese app in August and downsize its team in China, citing fierce domestic competition and a challenging economic climate for the move.

InCareer will shut on Aug. 9, the Microsoft-backed firm said today on its official Weibo account. LinkedIn will continue to have a presence in China and will focus on providing other services, including assisting Chinese firms to hire foreign talent and build international brands, it added.

LinkedIn China will shed 716 jobs, Reuters reported today.

LinkedIn China temporarily suspended the registration of new members in March 2021, reportedly to comply with tighter supervision of the country’s internet sector. In October 2021, the business also shut its user content publishing and interactive networking function to shift focus to recruitment.

LinkedIn will hold a meeting with all Chinese employees today to discuss the latest changes, which include halting the creation of product and engineering teams in China and downsizing its functional, business, and marketing departments, Chief Executive Officer Ryan Roslansky said.

LinkedIn entered China in 2014. It had more than 57 million members as of last July, accounting for around 6.5 percent of its global membership count, according to its website.

Editor: Futura Costaglione