Shenzheners Among the Highest Paid in the Country
Among the major Chinese cities, Shenzhen is still on top in terms of having the highest minimum wage standard. Beijing has the highest salary, which is 13 yuan per hour. Shenzhen’s minimum wage is 1,320 yuan.
During the first half of this year, 18 provinces and municipalities increased their minimum wages due in part to the 12th five year plan (2011-2015) planning to increase minimum wages by at least 13 percent every year.
Last April, the minimum wage in Shenzhen increased from 1,000 yuan to 1,320 yuan. This increase was considered the highest increase in the past nineteen years. The wage increase was to solve the labor shortage that has been hitting the manufacturing industry recently. Minimum wages in cities and provinces have been rising since last year in an effort to attract more workers amid the labor shortages and inflation.
Inflation is based on the consumer price index, which rose to about 5.4 percent year on year. Food prices also account for one third of the CPI calculations which rose to 11.8 percent with an 11 percent increase in the first quarter alone.