China – Average pay rise rate to fall in 2017

By memberservices@staffingindustry.com (Danny Romero)

The average pay rise rate in China will decrease by 0.2% to 6.7% in 2017, compared to last year, according a data from HR service provider China International Intellectech (Shanghai) Corporation.

“The slower pay rise is not surprising as the whole economic growth is slowing down and the employers are also suffering from narrowing profit margins,” Zhou Jing, manager of the CIIC research center, said. “Meanwhile, employers are also bearing increasing burden of human resource costs as employees’ pay had been risen fast in previous years.”

The only industry expected to have a higher pay rise rate than last year is the tech industry.

Shanghai is expected to have a pay rise rate of 6.4% this year, down from 6.7% last year. The growth rate in second-tier cities will still be higher than in first-tier cities.

Source:: China – Average pay rise rate to fall in 2017