Guangdong to raise minimum wage by 19%02-27 14:38 China Daily
GUANGZHOU - South China's Guangdong province is to raise the minimum wage by an average 19 percent from May to combat a labor shortage and rising living costs.
The pay raises will go into effect in all parts of Guangdong except Shenzhen on May 1, the provincial department of human resources and social security said in a press release on Thursday. Guangdong last raised the minimum salary in May 2013.
The minimum monthly pay for full-time workers in Guangzhou, the provincial capital, will be raised by 22.2 percent to 1,895 yuan ($300), the highest of four levels in the province.
Authorities in Shenzhen, which borders Hong Kong, separately announced a raise in the minimum monthly salary for full-time workers of 12.3 percent to 2,030 yuan ($320), the highest nationwide, from next month.
China is facing severe labor shortage due to tough birth control policies over the past three decades. Rising labor costs, coupled with falling orders, have left many manufacturers struggling and driven some to relocate to Southeast Asian countries.
Young Chinese fourth-highest earners in Asia by Dai Tian from chinadaily.com.cn
Young Chinese are earning on average 8,482 yuan ($1,358) per month, placing them fourth on the salary chart in Asia, reported Japanese news agency Nikkei quoting its recent survey.
Young professionals from Singapore, South Korea and Japan on average get the top three highest wages in Asia, said the study conducted for the first time.
The survey covered 2,000 interviewees from 10 Asian countries between the age of 20 and 30, according to Nikkei.
Singaporeans earn an average of 19,085 yuan per month, while young professionals in Vietnam rank the bottom with an average of 2,117 yuan per month.
According to Nikkei, 83 percent of young Chinese have credit card and 62 percent of young Malaysian have taken loans from financial institutions.
Job-hopping to net 25% rise in salaries by Shi Jing from China Daily
The continued interest of multinational companies in the Chinese market, combined with the rapid expansion of Chinese domestic firms, will inject much vitality in the country's job market and propel growth of employees' salaries.
According to the latest global salary report released by the recruitment specialist Robert Walters, Chinese employees who will change jobs in 2015 can expect their salary to go up by 15 to 25 percent, while those who choose to stay can also see a 6 to 8 percent increase.
Employees in Beijing working in such industries as accounting and finance, human resources, and marketing can expect their salaries to go up by 20 percent if they opt to change jobs. Those working in the sales and engineering research and development sector are likely to see their salaries increase by up to 30 percent.
For employees in Shanghai, they can also expect a salary increase of around 20 percent if they look for new opportunities in such industries as finance and accounting, banking, human resources, information technology and sales. Walters expects pharmaceutical and chemical industries to have strong demand in 2015, and those working in the operation and manufacturing sectors can see their salaries go up by 30 percent if they change jobs.
But it should be noted thatsales professionals in the luxury industry will see very limited salary increase due to the stagnantindustry. Only 5 to 15 percent increase will be seen for those who change jobs in this sector in 2015.
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