[China] Minimum wages rise as economy recovers

Since the start of 2021, multiple provincial-level regions of China have increased their minimum wage standards as the economic recovery from the impact of COVID-19 continues, CGTN reports.

In the provinces of Jiangxi, Heilongjiang and Shaanxi as well as the Xinjiang Uygur Autonomous Region, the statutory minimum monthly wages for developed cities have reportedly been increased to 1,850 yuan (about $286), 1,860 yuan, 1,950 yuan and 1,900 yuan, respectively, according to official data. 

The monthly minimum for the whole Tibet Autonomous Region will be increased to 1,850 yuan from July. 

From August, Beijing's minimum monthly salary will rise to 2,320 yuan. 

Municipal and provincial governments in China are authorised to set minimum wage standards and are required to adjust their levels at least once every two or three years. 

The last wave of adjustments came in 2017 and 2018. In 2020, many regions suspended adjustments to support the resumption of work and production in the wake of COVID-19. 

The latest data shows that China's economy - the second largest in the world - grew by 18.3 per cent year on year in the first quarter, as strong domestic and foreign demand powered recovery from a low base in early 2020 caused by the impact of COVID-19.

Su Hainan - a researcher at the Chinese Association of Labour Science - said, "Adjustments to minimum wages are backed by economic recovery and are in accordance with relevant policy requirements. There is also the realistic need to raise wages for low-income workers." 

Now, with monthly minimum wage increases of up to 200 yuan, analysts believe the adjustments will also contribute to the average salary growth of Chinese workers. 

The adjustments were part of China's latest push to improve people's wellbeing and boost personal incomes through multiple channels. 

This year's government work report said, "China will work to raise incomes among its low-income population and expand the size of its middle-income population. Per capita disposable income will generally grow in step with GDP growth." 

Su said that the benchmark of the minimum wage standard will have a "driving effect" on basic pay and other benefits. 

In addition to the minimum wage adjustment, in June Beijing announced increases in unemployment insurance benefits and disability benefits for people who sustain work-related injuries. 

The government work report stated that China will stabilise and expand consumption, and "ensure that our people have the ability and willingness to spend." 

The latest data from the National Bureau of Statistics shows that in May China's retail sales of consumer goods increased by 12.4 per cent year on year.

Source: CGTN

(Via Xinhua News Agency)

Since the start of 2021, multiple provincial-level regions of China have increased their minimum wage standards as the economic recovery from the impact of COVID-19 continues, CGTN reports.

In the provinces of Jiangxi, Heilongjiang and Shaanxi as well as the Xinjiang Uygur Autonomous Region, the statutory minimum monthly wages for developed cities have reportedly been increased to 1,850 yuan (about $286), 1,860 yuan, 1,950 yuan and 1,900 yuan, respectively, according to official data. 

The monthly minimum for the whole Tibet Autonomous Region will be increased to 1,850 yuan from July. 

From August, Beijing's minimum monthly salary will rise to 2,320 yuan. 

Municipal and provincial governments in China are authorised to set minimum wage standards and are required to adjust their levels at least once every two or three years. 

The last wave of adjustments came in 2017 and 2018. In 2020, many regions suspended adjustments to support the resumption of work and production in the wake of COVID-19. 

The latest data shows that China's economy - the second largest in the world - grew by 18.3 per cent year on year in the first quarter, as strong domestic and foreign demand powered recovery from a low base in early 2020 caused by the impact of COVID-19.

Su Hainan - a researcher at the Chinese Association of Labour Science - said, "Adjustments to minimum wages are backed by economic recovery and are in accordance with relevant policy requirements. There is also the realistic need to raise wages for low-income workers." 

Now, with monthly minimum wage increases of up to 200 yuan, analysts believe the adjustments will also contribute to the average salary growth of Chinese workers. 

The adjustments were part of China's latest push to improve people's wellbeing and boost personal incomes through multiple channels. 

This year's government work report said, "China will work to raise incomes among its low-income population and expand the size of its middle-income population. Per capita disposable income will generally grow in step with GDP growth." 

Su said that the benchmark of the minimum wage standard will have a "driving effect" on basic pay and other benefits. 

In addition to the minimum wage adjustment, in June Beijing announced increases in unemployment insurance benefits and disability benefits for people who sustain work-related injuries. 

The government work report stated that China will stabilise and expand consumption, and "ensure that our people have the ability and willingness to spend." 

The latest data from the National Bureau of Statistics shows that in May China's retail sales of consumer goods increased by 12.4 per cent year on year.

Source: CGTN

(Via Xinhua News Agency)