China gives government workers first big pay bump in a decade to boost economy
- Millions of government workers in China received surprise wage increases this week to boost the economy, as reported by people affected by the move.
- The immediate payout could amount to between US$12 billion and US$20 billion if all 48 million public-sector workers collect the increases, according to Reuters.
- Monthly wages for government employees were raised by an average of about 500 yuan , with some junior workers seeing increases near 300 yuan , as noted by Reuters.
- The pay rises were backdated to July and delivered as a single payment, with no details on funding provided by Beijing, as stated by people with knowledge of the matter.
36 Articles
36 Articles
Title: China's Strategy to Boost Consumption: Rising Wages for Civil Servants Explained
China has raised the salaries of 48 million state employees by an average of 500 Yuan (approximately 62 Swiss Francs) to stimulate consumption. This is the first increase in a decade, aimed at enhancing spending among civil servants who generally receive better benefits than private-sector workers. While many welcomed the news, concerns about increasing inequality […]
Beijing. Millions of public workers across China received wage increases this week by surprise, reported those affected, at a time when Beijing is trying to boost spending to boost the economy.
China's rulers do not want to make a big deal about the new measure because they fear discontent among the population. Meanwhile, there are doubts as to whether the state is taking action in the right place.
energy-daily.com
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