Summary of Are You Among Those Who Will Get a Raise?

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China has set a goal of raising the standard of living for the middle class significantly by 2020. As a part of this grand scheme, nearly 20 local municipalities have announced wage increases in seven job categories that will benefit an estimated 300 million people. In this article from China Central Television Station’s wemedia finance channel, reporter Zhang Di briefs readers on which policies may affect them and how these changes may affect China as a whole. getAbstract recommends this article to people interested in China’s socioeconomic shifts and new economic policies in 2018.

About the Author

Zhang Di is a financial news editor at CCTV.

 

Summary

Chinese municipal and local city governments announced policies that aim to raise the pay in seven major job categories: highly skilled laborers, farming professionals, researchers and developers, microbusiness entrepreneurs, company managers, bureaucracy staff, and the socially and economically disadvantaged. The new wage increases rolled out nationwide will benefit an estimated 300 million people in China. By affecting related industries, an even greater number of people may benefit. 

Although most municipal governments are targeting the same occupation groups, specific policies vary. For instance, the Beijing government announced 27 specific measures covering eight different areas to meet the needs of the different groups. These measures include subsidizing e-commerce entrepreneurs and their employees as well as increased social benefits and additional subsidies for farming professionals who create new jobs. People on social welfare who find a job will receive government...


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