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China Briefings

Reports on China issued by Samsung Economic Research Institute

China Business Intelligence No. 182

China Business Intelligence No. 182

Samsung Economic Research Institute Beijing Office

Nov. 26, 2010

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Despite upward revisions, China's minimum wages are still below reasonable levels. In February, Jiangsu raised its minimum wage, after which 30 provinces and cities excluding Hong Kong, Macao, Taiwan and Chongqing also raised their minimum wage. The average growth rate in the 30 provinces and cities is 24% and that for Henan is 37.5%, which is the highest. After the upward corrections, Shanghai offers the highest minimum monthly wage (1,120 yuan) and Beijing the highest hourly wage (11 yuan). In the future, the social minimum wage is expected to rise more rapidly. According to the national policy, the frequency of raising minimum wages and the range of growth rates will be expanded. Under the Plan for Increasing National Income, an annual 15% wage hike is required to double the current income levels. To address income inequality, incomes for the low and middle classes should be hoisted faster.

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