The path of development for China’s manufacturing industry is becoming increasingly narrow: Many companies with massive labor pools, extremely thin industry profits, and only a tightrope ahead–further cutting costs. In the current macroeconomic circumstances, production capacity remains high, wages continuously rise, and export demands are plummeting, with many manufacturers constantly complaining of their troubles. When even manufacturing industry paragon Haier is complaining about scant profits, the operating situation for other companies can easily be imagined. The operating [Read more...]

China News Service April 27th report (Finance Channel, Li Jinlei). On the 25th, Ministry of Human Resources and Social Security spokesperson Yin Chengji revealed that currently the highest monthly minimum wage is 1500 yuan in Shenzhen and the highest hourly minimum wage is 14 yuan in Beijing. China New Service Finance Channel hereby presents the current minimum wage standards of 32 provinces and cities. The rankings show that as of April 26th, the highest monthly minimum wage is in Shenzhen at 1500 yuan, the second is in Shanghai at 1450 yuan, and Tianjin and Zhejiang both at 1310 yuan in [Read more...]

United States launches Golden Key Plan: Promote 4000 SMEs to enter China Yesterday, the American Chamber of Commerce in South China released the “2012 South China Regional Economic Situation Special Report” which indicated that despite the global economic slowdown, businesses in southern China still maintained a high level of profitability, and are budgeting to increase investment 20% over last year. The American Chamber of Commerce therefore estimates that over the next three years (2012 – 2014), businesses will invest 11.7 billion USD expanding operations in southern [Read more...]