Higher Salaries in China in Store (Again) for 2014 PDF Print E-mail
Written by Mike Buetow   
Monday, 06 January 2014 08:58

SHANGHAI -- It looks like businesses in China will ring in the new year with at least one carryover from 2013: wage inflation. Worker pay is expected to see double-digit growth in 2014, continuing a decade-long streak that has begun to hamper China's rate of growth and lead some companies to relocate projects to other countries.

Among those forecasting another round of big wage hikes is Bank of America, JPMorgan Chase and Mizuho Securities, all of which forecast year-over-year increases of 10% to 15%.

Worker salaries rose an estimated 10.7% in 2013, according to Bank of America. & Co. and Asia Ltd. analysts said in interviews that they predict 10 percent to 15 percent increases.

China is actually ushering the hikes along, implementing increases of 13% in Shenzhen, Guangdong; and 15.6% in in Yangzhou, Jiangsu; 11.3% in Xi'an, Shaanxi; and 9.1% in Changsha, Hunan.

 

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