Beijing Raises Minimum Wages
Beijing has decided to increase the capital's minimum wage by 10 per cent, state media reports. As of 1 July, the minimum salary for city employees will rise from RMB730 to RMB800. The city government will also increase subsidies to families living below the poverty line and improve employment insurance, job-related injury insurance and pensions, according to the report. A government official said Beijing hopes this move would help to offset the ongoing sharp price increases for food items. A recent survey showed that 45 per cent of Chinese polled believe current prices are "unacceptably high".
Bank of Nanjing Eyes National Expansion
Bank of Nanjing, plans to open up to eight new branches beyond its home city, the capital of Jiangsu province, within three years. The
first branch outside its home province opened in Shanghai last week,
and its will be followed – subject to regulatory approval – by a branch in Beijing.
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