New figures released by the National Bureau of Statistics reveal that average annual wages grew by more than 18 per cent last year, the fastest rate of growth since 2001.
The mean annual wage for a Chinese employee working in a city grew by
18.72 per cent last year, to RMB24.932, Forbes reports. China Business
News adds that salaries in state-protected industries, such as
securities, banking and aviation, reached an average level of more than
RMB100,000 in 2007.
At the same time, salaries for certain mining and
extraction jobs, farming and basic manufacturing are as low as
RMB20,000 per year. The paper also said that wages in insurance, legal
services, communications, tobacco, oil and gas range from RMB80,000 to
RMB100,000.
As reported earlier,
Shanghai and other Eastern provinces such as Jiangsu, have raised the
minimum wage by more than 13 per cent in an attempt to offset rising
prices for food and electricity.
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