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Average salary in China to grow 7% in 2017: report
Author :   Source : cri.cn 2017-01-09
A clerk counts money for a client at an Agricultural Bank of China branch in Hainan province. [Photo/IC]
China's average salary will increase by 7 percent in 2017, according to the latest research by an international human resource consultancy. Subtracting an inflation rate 2.3 percent, the 4.7 percent real rise in salary will be the 3rd highest in the Asia-Pacific region and 4th in the world.
ECA International's latest investigation suggested that in 2017, the 4.7 percent actual increase in the Chinese mainland's average salary is compared to a 2.6 percent forecasted increase in the Asia-Pacific region and a 1.5 percent global increase.
Among China's first-tier cities, Shenzhen will see the highest increase of 5.2 percent, while Beijing is likely to experience the lowest growth of 3.2 percent, according to the research.
ECA International said that a slower economic growth has not directly affected wages in China.
The real increase in Hong Kong will be 1.4 percent, the third lowest in the Asia- Pacific region, with Macau set for 1.7 percent.
In Asia, the research expects Vietnam to see the highest wage growth of 5.4 percent next year, while Myanmar will be the only country to see a decrease in average wages due to high inflation.
Globally, wages in Argentina will grow the fastest next year, at 6.5 percent.