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China Will Balance Income Gap
October 24, 2007 |
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| Category: Labor
Sohu.com reports that China's Ministry of Labor and Social Security will set out to make an employee salary normalization increase mechanism to adjust the increase of salaries of employees from competitive industries and solve the problem of income gaps across the country.
Yin Chengji, deputy director form the Work Office of MLSS, said at a press conference that there is an obvious gap in income allocation and salary level among different regions and industries, and this problem has raised high attention from the Chinese government which has asked MLSS to work on the new mechanism.
Yin says that China's salary level has increased a lot in recent years and employees' average salaries have increased rapidly. But due to the increase in education and other consumption items, some employees don't think their salary has increased fast enough.
The maximum per capita salary in China in 2000 is 2.63 times that of the lowest level, but the difference was enlarged to 4.88 times in 2005, according to the report. Social policy experts from China say that the establishment of an employee salary growth mechanism will solve problems of high salaries in some monopolizing industries and reduce the income gap among different industries.
In recent years, China has taken a series of measures to tackle the problem of income allocation. For example, it has made adjustment on retired persons' salaries for three consecutive years and will continue to adjust for another three years, according to Yin.
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