Buildings in the center of Shenzhen, Dec. 19, 2013. (File photo/Xinhua)
The minimum wage in Shenzhen has exceeded that of Shanghai, our sister paper Commercial Times reported on Feb. 5.
The Shenzhen city government announced that the city's minimum wage has been raised from US$213 to US$241 a month, which has made it the city with the most expensive labor in China. The minimum wage in the city in 1992 was US$39.
According to China's 12th five-year plan, between 2011 and 2015, the growth of the minimum wage must exceed 13%, which was exactly the amount by which Shenzhen recently raised its minimum wage.
In 2013, Shanghai had the largest minimum wage, followed by Shenzhen and Guangdong. In addition to Shenzhen, the growth for the minimum wage in Xinjiang was 31%, 29.8% in Jiangsu, 19.2% in Guangdong, 11.7% in Shanghai and 11.1% in Beijing.
The newspaper reported that the increasing minimum wage in China does not worry most companies.
After the raise, the average paycheck for each employee in Shenzhen will be between US$530-$670 a month, the paper reported.