Ministry Of Commerce: Raising Wages For Workers Is In Line With China'S Development Trend

In view of the recent increase of minimum wage standards in several provinces along the coast of China, Yao Jian, spokesman of the Ministry of Commerce of China, pointed out that cheap labor is not the primary factor in China's absorption of foreign capital at this stage. Raising labor wages is in line with China's overall economic and industrial trends, and should let more industrial workers and society enjoy the fruits of economic development.

On the 12 day, the Ministry of Commerce held a monthly regular press conference.

Yao insisted that the most important factors in China's current absorption of foreign capital include political stability, economic development, further improvement of the legal environment, huge domestic market scale and perfect industrial matching capabilities, as well as the continuous improvement of the quality of the educated population.

It is known that nearly 30 foreign-funded enterprises have provided more than 45 million jobs to China. In recent years, China's manufacturing industry is upgrading, and the structure of absorbing foreign capital has undergone a qualitative change, and the employment environment and labor treatment are also improving.

Foreign investment is optimistic about China's future potential. More than 6 of its output value is sold in the Chinese market, and the proportion of domestic sales is increasing.

Yao Jian also admitted at the same time that the profit level of some industries, including exports, is relatively low, and will be affected by factors such as raw material prices and salary increase. The most important task of the government is to prevent a variety of negative factors from overlaying.

He stressed: "the position is the first, followed by the wages".

For the Shenzhen Foxconn incident, Yao Jian said that through the coordination efforts of the labour department, especially the local government, most of the problems have been alleviated and will be properly solved.

On the whole, China's labor relations laws and regulations are sound, and will continue to improve.