Protests by 5,000 workers at a shoe factory in Dongguan, Guangdong striking to protest housing benefit restrictions and arrears ended in clashes with police, The Financial Times reported. The Stella International Holdings-owned (1836.HKG) company, which supplies Nike (NKE.NYSE) among other international brands, changed the rules for its housing payments to restrict their use to local properties only–an unpopular move with migrant workers who prefer to buy or build back in their home towns. The strike highlights the social security concerns of a growing ageing population in China; a government minister admitted the country faced “great pressure” to balance pension fund cash flows.
China Economic Review