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PR Newswire
06-01-2014, 07:52 PM
The news is a bad news for those labour intensive business in China, but good news for those betting on consumption in China...
China wages seen jumping in 2014 amid shift to services
BEIJING -- China’s wages are set to increase by 10 per cent or more in 2014, driving more low-cost manufacturers out of the country and boosting consumption, the Bloomberg news agency reported, citing analysts at firms including Bank of America.
Mr Lu Ting, a Hong Kong-based economist for Bank of America, said that he sees wage growth of 11 per cent this year after an estimated 10.7 per cent gain in 2013. JPMorgan Chase and Mizuho Securities Asia analysts said that they predict 10 per cent to 15 per cent increases.
...
http://www.todayonline.com/business/chin...t-services
China wages seen jumping in 2014 amid shift to services
BEIJING -- China’s wages are set to increase by 10 per cent or more in 2014, driving more low-cost manufacturers out of the country and boosting consumption, the Bloomberg news agency reported, citing analysts at firms including Bank of America.
Mr Lu Ting, a Hong Kong-based economist for Bank of America, said that he sees wage growth of 11 per cent this year after an estimated 10.7 per cent gain in 2013. JPMorgan Chase and Mizuho Securities Asia analysts said that they predict 10 per cent to 15 per cent increases.
...
http://www.todayonline.com/business/chin...t-services
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