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| Guangzhou Incomes Up 8% in First Half |
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Per capita average income of urban residents reached a record 17,440 yuan (US$2,180) in The figure represents a year-on-year increase of more than 8 percent and makes If the rate is maintained residents will earn on average 34,880 year (US$4,372) this year. The per capita average income of urban residents in Shenzhen, which borders Hong Kong Special Administrative Region, was previously the richest city on the Chinese mainland. In addition to the city's sustainable economic growth, an official from Guangzhou Municipal Bureau of Labor and Social Security yesterday attributed the steady increase to the introduction of the annual salary system in many State-owned and foreign-funded companies. The new system, which closely connects the incomes of managers and staff to profits, has greatly increased productivity. To help attract more talent to work in the public sector, Those working in "hot industries" such as IT, autos, petrochemicals, steel, pharmaceuticals, light textiles and new materials are the biggest winners this year, the official told China Daily. "And residents who have high education levels, special technical skills and good work experience are earning even more," said the official. "Most residents are aged between 30 and 40 and have been working for 5 to 10 years," he added. ( |
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