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Salary of urban Chinese rise sharply in 2007: govt
Beijing (AFP) Oct 29, 2007 The salaries of people working in China's cities grew by 18.8 percent in the first nine months of the year, with those in state-owned firms rising the fastest, the government said Monday. Urban employees each earned a total of 16,675 yuan (2,227 dollars) in the first three quarters of 2007, up 18.8 percent on year, according to figures posted on the website of the National Bureau of Statistics. Salaries at state-owned companies and entities rose 20.8 percent, the bureau said. No figures were provided for people working in rural areas, who have watched their incomes rise at a far slower rate during China's economic boom. Rising urban incomes have helped China's stock market jump by more than 100 percent this year after climbing 130 percent in 2006, with household savings flowing into the bourses given a negative actual deposit interest rate. The benchmark one-year deposit interest rate stood at 3.87 percent after five hikes this year, still lower than the inflation rate of 4.1 percent in the first nine months. Related Links China News from SinoDaily.com
Moderate Chinese slowdown shows growing dependence on world: analysts
Beijing (AFP) Oct 25, 2007China's economy is more integrated with the world than ever before, and its slight slowdown in recent months is more likely due to a global cooling than Beijing's efforts, analysts said Thursday. |
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