Home / Government / Opinion Tools: Save | Print | E-mail | Most Read
Give People More Money
Adjust font size:

The authorities are making the correct decision to increase people's income, says a signed article in Shanghai Securities News. An excerpt follows:

The Ministry of Labor and Social Security is launching a five-point program to raise employee income. It has been welcomed by many though there are worries that the salary increase would weaken China's international competitiveness.

The worry is unnecessary. Workers' salaries should retain a proper ratio with economic growth. The economy will be hurt by increased labor costs if the ratio is too high while consumption will suffer if salaries are too low.

Salaries in China have been relatively low for a long time.

A recent figure from the International Labor Organization indicated that per capita output in China grew 63.4 percent between 2000 and 2005, but salaries did not have comparable growth. This is believed to be the cause of the long-term sluggish consumption.

A World Bank report reached the same conclusion in February, saying that low consumption was the result of low salaries rather than the high savings rate of Chinese families.

A fact verifying this conclusion is that domestic consumption has remained at a relatively low level despite continuous State efforts since the 1990s to stimulate consumption.

The primary issue to address now should be the weak consumption caused by salaries lagging far behind economic growth.

With the economy maintaining its high-speed growth for more than two decades, it is time for the Chinese people to share the fruits of economic prosperity.

(China Daily May 25, 2007)

Tools: Save | Print | E-mail | Most Read

Related Stories
Questions and Answers More
Q: What Are the Custom Procedures to Export Personal Articles?
A: According to the Custom Law, any long-term non-resident passenger importing or exporting articles for personal use must submit a written application to the appropriate customs agency personally or by authorizing an agent.
Useful Info
- Who's Who in China's Leadership
- State Structure
- China's Political System
- China's Legislative System
- China's Judicial System
- Mapping out 11th Five-Year Guidelines
Links
- Chinese Embassies
- International Department, Central Committee of CPC
- State Organs Work Committee of CPC
- United Front Work Department, Central Committee of CPC
SiteMap | About Us | RSS | Newsletter | Feedback
SEARCH THIS SITE
Copyright © China.org.cn. All Rights Reserved     E-mail: webmaster@china.org.cn Tel: 86-10-88828000 京ICP证 040089号