Top Biz News

Wages remain strong in real estate, monopolies

By Wu Jiao (China Daily)
Updated: 2007-02-07 10:31

The report also said subsidies and other forms of government welfare contributed the lion's share of the earnings of people employed in monopoly industries. Their actual salaries were modest in comparison to their additional earnings.

The report also highlighted the rising salaries of senior managers in Beijing's high-tech industry.

They earned an average of 600,000 yuan ($76,900) a year, 100,000 yuan ($12,820) higher than their counterparts in Shanghai and Shenzhen.

By contrast, newly graduated bachelor's or master's degree holders in Beijing earned much less.

Due to a spike in the number of graduating students in the capital city, recent bachelor's graduates can expect to earn only 2,500 yuan ($320), while master's degree grads can expect 4,500 yuan ($576), a slight decrease compared to the figures from last year, said the report.

The report echoed the findings of a document on the country's income distribution issued last week by theNational Development and Reform Commission's Academy of Macro-economic Research.

The document noted that the wage disparities between different enterprises and industries was growing. It said the government had failed to properly adjust the income distribution.

(China Daily 02/07/2007 page3)