The Shanghai municipal government has announced it will raise the minimum wage from April 1st. That would mark the 19th such adjustment since 1993 when the scheme was implemented.

The lowest monthly wage will be lifted by 13% to 1,450 yuan, or 230 U.S. dollars. That's from 11 yuan to 12.5 yuan on an hourly basis.

The minimum wage doesn't include social insurance, housing funds, or other allowances.

After the raise, Shanghai's minimum wage will remain the highest across China.

Analysts say lifting wages could promote domestic consumption, which in turn helps to shift China's economic growth pattern.