China Economic ReviewShenzhen is considering raising its minimum wage by as much as 23%, which could be an indicator of coming cost pressure for manufacturers in South China, the Financial Times reported. The Shenzhen labor bureau is weighing up increasing the current equivalent rate of US$86 a month to US$100 or US$106 inside the special economic zone. […]
Lenovo has announced it is to slash 5% of its workforce worldwide – about 1,000 full-time staff. The major restructuring, which will take place in stages over six months to a year, should save the computer maker US$250 million. Lenovo became the world’s third largest computer maker after purchasing IBM’s personal computer division. While 350 […]
Spending on education is expected to take up a record 4% of China's gross domestic product during the coming five years, up from the current level of 2.79%, state media reported. Minister of Education Zhou Ji said Tuesday the increased funding would boost vocational training for its massive rural migrant labor force and help guarantee […]
Morgan Stanley is bracing for a major reshuffle of its top China management with its Hong Kong-based chief executive set to resign, the South China Morning Post reported. Jonathan Zhu Jia, 43, was expected to announce shortly he would leave after 11 years to join private equity firm Bain Capital as a partner, sources told […]
Top unionists have expressed concerns over low incomes and the slow wage increase rate among blue-collar workers following the recent release of a national survey, state media reported. Dong Li, senior official with All-China Federation of Trade Unions, said that despite annual average growth of 9.4 per cent in the past 27 years, the slow […]