Legal News

Chinese Provinces are Setting Lower Growth Targets
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

A province is the highest level Chinese administrative division. There are 34 such divisions, they are classified as 22 provinces, 4 municipalities, 5 autonomous regions, 2 Special Administrative Regions, and the claimed Taiwan Province. Every province has a Communist Party of China provincial committee, headed by a secretary beside the two special administrative regions. The committee secretary is in charge of the province, rather than the governor of the provincial government.

Different parts of China have very different standards of living and China does not set one minimum wage for the entire nation. The task of setting minimum wages is delegated to the local governments. Each province, municipality, or region sets its own minimum wage in accordance with its own local conditions.

  
What
Where


Wage growth targets for workers this year for more than one third of China’s provincial level governments show most of them trimming down salary increases as companies face decreasing profits during a slowing economy. A report by the Economic Information Daily released that of the 12 local governments that have released wage plans, most have targeted 14 percent wage growth this year.

An economist with the Chinese Academy of Social Sciences, Yuan Lei, said that China’s exports may slow down even further this year due to a weak global economic recovery, which will create even greater pressure for export-oriented companies in hiking up the workers’ wages.

According to English People Daily, Yang Liming, a labor and wage researcher with the Ministry of Human Resources and Social Security stated that, “Overly fast wage increases will push up costs for enterprises, and may even cause challenges for the operation of small and medium-sized companies.”

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




Expansion will be slow as the government focuses on policies to sustain the economy in the long term, reports Bloomberg News. For Information on employment with Bloomberg News click here.

Image Credit: www.businessweek.com





 

Interesting Legal Sites You May Like


BCG FEATURED JOB

Locations:

Keyword:



Search Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a mid-level litigation attorney with experience taking/defending dep...

Apply Now

Trust and Estate Attorney

USA-NY-New York City

Boutique trust and estate firm is seeking an attorney with 7+ years of experience. Candidate should ...

Apply Now

Mid-level Litigation Attorney

USA-CA-San Francisco

San Francisco office is seeking a support attorney with some experience/familiarity with a litigatio...

Apply Now

In House Counsel with Transactional Energy Experience

USA-NY-New York City

New York City company is seeking an in house counsel with knowledge of the oil / energy industry. Ca...

Apply Now

RELEVANT JOBS

Litigation paralegal

USA-TX-Dallas

We are looking to immediately hire a responsible, highly organized, self-motivated litigation parale...

Apply now

Attorney

USA-TX-Dallas

Associate Attorney – 7 to 10 Years’ Experience - Dallas/Fort Worth   ...

Apply now

Associate Attorney

USA-TX-Dallas

Associate Attorney – 3 to 5 Years’ Experience - Dallas/Fort Worth   ...

Apply now

Litigation Attorney

USA-TX-Dallas

Litigation Attorney   Dallas, TX One of Texas\' largest Personal Injury Law Firms se...

Apply now

SEARCH IN ARCHIVE

To Top