China's Salaries Jumped 14.5% in Week After Lunar New Year Holiday

[Stranagor]

China's Salaries Jumped 14.5% in Week After Lunar New Year Holiday

ZHANG YUSHUO
DATE : FEB 10 2020/SOURCE : YICAI

China's Salaries Jumped 14.5% in Week After Lunar New Year Holiday

(Yicai Global) Feb. 10 -- China's average salary rose 14.5 percent in the first week after the Chinese New Year holiday, the findings of a new report published today by recruitment site Zhaopin show.

Average monthly remuneration in 38 core cities was CNY9,311 (USD1,333.4) in the week ended Feb. 7, with the highest-paying sector -- finance -- still leading the way in hiring, according to the report which was based on 14,574 valid questionnaire responses and survey data.

Six management and research and development posts were among the top 10 highest-paying advertised. Senior managers in businesses can earn CNY23,232 (USD3,328) a month, a 20-percent annual increase, per the report.

Beijing led among cities with an average monthly salary of CNY12,326, while the average in Shanghai, Shenzhen and Hangzhou exceeded CNY10,000. In Wuhan, a city in lockdown since the novel coronavirus outbreak, it was as high as CNY9,637, a 27-percent increase from a year ago that pushed Wuhan into the ranks of the high-salary cities.

The number of corporate hiring posts in the week declined almost 72 percent compared with the same period last year, and the number of job applications fell more than 83 percent, according to the report.

Competition among job seekers in the real estate sector was the fiercest, and the financial field also remained popular during the epidemic prevention and control period. With people watching dramas online at home amid the outbreak, the popularity of the culture and media sector has gained.

The proportion of job positions advertised in the pharmaceutical/biological engineering sector and in education has also increased due to the epidemic. And all kinds of courses have been forced to shift online with mature technologies and market impetus sorely required.

Wuhan's salary spike is largely due to the epidemic. Demand for recruits in professional services, real estate, education and training in the capital of Hubei province capital, the outbreak's epicenter, has expanded greatly compared with last year. Hiring for the internet is also expanding.

These are important sectors in the fight against the epidemic, so remuneration in these sectors will increase, Zhaopin said in the report.

https://yicaiglobal.com/news/china-salaries-jumped-145-in-week-after-lunar-new-year-holiday

 

[Viva_Viet]

China's Salaries Jumped 14.5% in Week After Lunar New Year Holiday

ZHANG YUSHUO
DATE : FEB 10 2020/SOURCE : YICAI

China's Salaries Jumped 14.5% in Week After Lunar New Year Holiday

(Yicai Global) Feb. 10 -- China's average salary rose 14.5 percent in the first week after the Chinese New Year holiday, the findings of a new report published today by recruitment site Zhaopin show.

Average monthly remuneration in 38 core cities was CNY9,311 (USD1,333.4) in the week ended Feb. 7, with the highest-paying sector -- finance -- still leading the way in hiring, according to the report which was based on 14,574 valid questionnaire responses and survey data.

Six management and research and development posts were among the top 10 highest-paying advertised. Senior managers in businesses can earn CNY23,232 (USD3,328) a month, a 20-percent annual increase, per the report.

Beijing led among cities with an average monthly salary of CNY12,326, while the average in Shanghai, Shenzhen and Hangzhou exceeded CNY10,000. In Wuhan, a city in lockdown since the novel coronavirus outbreak, it was as high as CNY9,637, a 27-percent increase from a year ago that pushed Wuhan into the ranks of the high-salary cities.

The number of corporate hiring posts in the week declined almost 72 percent compared with the same period last year, and the number of job applications fell more than 83 percent, according to the report.

Competition among job seekers in the real estate sector was the fiercest, and the financial field also remained popular during the epidemic prevention and control period. With people watching dramas online at home amid the outbreak, the popularity of the culture and media sector has gained.

The proportion of job positions advertised in the pharmaceutical/biological engineering sector and in education has also increased due to the epidemic. And all kinds of courses have been forced to shift online with mature technologies and market impetus sorely required.

Wuhan's salary spike is largely due to the epidemic. Demand for recruits in professional services, real estate, education and training in the capital of Hubei province capital, the outbreak's epicenter, has expanded greatly compared with last year. Hiring for the internet is also expanding.

These are important sectors in the fight against the epidemic, so remuneration in these sectors will increase, Zhaopin said in the report.

https://yicaiglobal.com/news/china-salaries-jumped-145-in-week-after-lunar-new-year-holiday

I heard that a factory in Heilong Jiang just closed after re opening due to some workers got nCov.

So its dangerous to go to work in CN now.Better wait till nCov over.

 

[Beast]

I heard that a factory in Heilong Jiang just closed after re opening due to some workers got nCov.

So its dangerous to go to work in CN now.Better wait till nCov over.

We also want. But the global is begging China to open their factory as soon as possible. Hyundai car factory stop production becos spare supply from China ran out. I do not want Vietnam factory to close too. China make chipset for electronic while Vietnam produced plastic covers and cheap labour to do the assembly.

 

[Viva_Viet]

We also want. But the global is begging China to open their factory as soon as possible. Hyundai car factory stop production becos spare supply from China ran out. I do not want Vietnam factory to close too. China make chipset for electronic while Vietnam produced plastic covers and cheap labour to do the assembly.

Global is begging ?? Haha, as I know, Trump said : "no delay for trade deal" even when CN economy is suffering from nCov .

Some VN factories importing components from CN surely will suffer the loss, too but some factories using JP components ( to assemble stuff like plane black box) are still Ok, workers there even have to work overtime due to huge orders.

So, in this time, some factories/ bussinessmen that depend too much on Cnese components will get hard hit, while the rest just simply dont care as long as nCov will not spread in VN.

 

[Beast]

Global is begging ?? Haha, as I know, Trump said : "no delay for trade deal" even when CN economy is suffering from nCov .

Some VN factories importing components from CN surely will suffer the loss, too but some factories using JP components ( to assemble stuff like plane black box) are still Ok, workers there even have to work overtime due to huge orders.

So, in this time, some factories/ bussinessmen that depend too much on Cnese components will get hard hit, while the rest just simply dont care as long as nCov will not spread in VN.

You think they have a choice? China is world factory for a reason. Vietnam will be hit badly too if China suffer. You can blah blah blah but it will not changed the fact. Somemore your thread proves Chinese wages goes up becos we are busy making high end chipset rather than plastic and assemble job that suits Vietnam low wages.

 

[Viva_Viet]

You think they have a choice? China is world factory for a reason. Vietnam will be hit badly too if China suffer. You can blah blah blah but it will not changed the fact. Somemore your thread proves Chinese wages goes up becos we are busy making high end chipset rather than plastic and assemble job that suits Vietnam low wages.

No, the bosses raise salary cos Cnese workers dont wanna risk their lives working in factories that full of deadly virus.

And I dont see Samsung VN has big trouble this time too cos Ssung no longer import CN components .

If CN phones collapse, then Samsung VN make more money.No one care abt usless CN

 

[Viet]

I heard that a factory in Heilong Jiang just closed after re opening due to some workers got nCov.

So its dangerous to go to work in CN now.Better wait till nCov over.

Plus: chinese labor costs increase faster than productivity. Not good. Foreigners will leave en masse soon because it’s too expensive to manufacture basic goods.

Garments, textile, women underwear, smartphones, computers, furniture, plastic, electronics, TV sets, industrial farm produces, etc.
all will move to Vietnam and other Asean countries.

 

[CHN Bamboo]

In Wuhan, a city in lockdown since the novel coronavirus outbreak, it was as high as CNY9,637, a 27-percent increase from a year ago that pushed Wuhan into the ranks of the high-salary cities.

However, Wuhan also has the common problems of China's big cities.

House price in Wuhan (per square meter) is about twice the monthly salary.

Although the income has increased, the life of citizens is still stressful.

Wuhan's salary spike is largely due to the epidemic. Demand for recruits in professional services, real estate, education and training in the capital of Hubei province capital, the outbreak's epicenter, has expanded greatly compared with last year. Hiring for the internet is also expanding.

Online education, collaborative work, telemedicine, remote interview, fresh food e-commerce...

The stocks related to these sectors have soared recently.

The epidemic has brought opportunities to the Internet applications.

But these benefits are likely to be short-lived.

 

[Viva_Viet]

Plus: chinese labor costs increase faster than productivity. Not good. Foreigners will leave en masse soon because it’s too expensive to manufacture basic goods.

Garments, textile, women underwear, smartphones, computers, furniture, plastic, electronics, TV sets, industrial farm produces, etc.
all will move to Vietnam and other Asean countries.

true, the investors got a hard lesson when 'putting all of their eggs in CN's bag' . Samsung, already moved to VN, suffer a little while Apple-Hwei-Xiaomi etc will suffer a big loss when they will have to delay making new phones

They raise the salaries just for hoping CN working coming back to work will reduce their loss. In long run, another deadly disease happen in CN again will make all of them go bankrupted.

Meanwhile, VN must learn from CN's lesson and try to put down any epidemic before situation get out of control.

 

[Viet]

true, the investors got a hard lesson when 'putting all of their eggs in CN's bag' . Samsung, already moved to VN, suffer a little while Apple-Hwei-Xiaomi etc will suffer a big loss when they will have to delay making new phones

They raise the salaries just for hoping CN working coming back to work will reduce their loss. In long run, another deadly disease happen in CN again will make all of them go bankrupted.

Meanwhile, VN must learn from CN's lesson and try to put down any epidemic before situation get out of control.

Xi Jingping can lead his country into a service oriented economy, they can focus on R&D, service, aircraft carriers. Let’s Vietnam do manufacturing. We make things cheaper and faster.

 

[Viva_Viet]

Xi Jingping can lead his country into a service oriented economy, they can focus on R&D, service, aircraft carriers. Let’s Vietnam do manufacturing. We make things cheaper and faster.

Thats sarcastic comment. We all know Service sector suffer the most in Wuhan outbrake ( tourist cancelled,flight cancelled, Macau casino closed etc )

Btw, Bill gate warned us abt the next pademic since 2015, but No Cnese, No investors in CN listen...and now they pay high price like Bill said

Stupid Apple, stupid gay Tim cook. No new Iphone release for u till Wuhan outbreak gone bcs Tim didnt listen to Bill warning

https://defence.pk/pdf/threads/bill-gates-in-2018-the-world-needs-to-prepare-for-pandemics.653029/

 

[Mista]

House price in Wuhan (per square meter) is about twice the monthly salary

I remember it's around 6 or 7 months in Beijing.

 

[lcloo]

During 2008, in my last working year in China, our factory workers were earning around RMB 800 wage rate before overtime pay (minimum wage rate in Shenzhen), pays for Mainland Chinese managers were around RMB 6,000 per month. While the expat managers were earning RMB24,000 to over RMB100,000 per month (managers, GM to MD).

So much have changed since then. That is China speed.

 

[CHN Bamboo]

I remember it's around 6 or 7 months in Beijing.

北京房价地图。

It's even higher in the city centre of Beijing. Have a look at pic above. In Xicheng District, Beijing, the average price is close to 110k yuan per square meter. This is definitely not affordable to the working class.

According to Lianjia, the average house price in Beijing is about 60k yuan per square meter.

House prices in Beijing, Shanghai, Guangzhou and Shenzhen are the highest in the mainland. People living in these cities, especially the new residents, are also the most stressed in China.

一线城市过高的房价颇使人望而生畏，收入高不了多少，房价比二线高几倍。不是小老板/富人/个体户/高管之类的人很难在一线负担起一套大房子。（上车早的人除外。

今年下半年的秋招，如果能在武汉找到满意的工作，绝对不会去一线。(´･_･`)

武汉的普通居民生活压力虽然大，但比起北京仍然好得多。

这是武汉的房价。
最高的武昌区也就差不多23k。
全市均价16k。稍高于北京的1/4。

 

[Viet]

I remember it's around 6 or 7 months in Beijing.

That is extremely expensive!!!