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This isn't really news. Minimum wage in China is set per province, and different coastal provinces at different times have been posting significant minimum wage
by bfe 15y ago
This isn't really news. Minimum wage in China is set per province, and different coastal provinces at different times have been posting significant minimum wage hikes, even competing with each other's wage hikes, for quite a while now.
But more importantly, the government policy actions haven't been the most important factor at work; many employers have been raising wages ahead of and above the minimum wage hikes, and have been actively sending out recruiters for the first time. Many of them have started having a hard time finding enough workers for the first time, after spending the past couple decades seeing long lines form for any job posting. The Chinese labor market has been tilting toward workers' favor on its own, with workers having a lot more options. This will keep pressuring wages up in the coastal provinces, keep redistributing production and domestic spending power to the inland provinces and other countries in southeast and south Asia, and keep spreading domestic demand throughout, all of which is overall good for all of them, and good for the rest of us.