Minister of Commerce: Raises will not affect exports much

14:57, June 21, 2010      

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Minister of Commerce Chen Deming believes that pay raises being offered by companies will have some impact, but not much on China's export orders.

Referring to recent pay raises due to a rising number of labor disputes, which will inevitably make labor costs rise, and whether this will affect foreign investment, Chen said, "We're looking into the problem."

He explained that China is still rich in labor resources

"We will reach peak population in the 2030s with a total population of about 1.5 billion. We have a lot of well-trained young people, which enables us to develop high-end industries," he said.

Some critics say that China has entered a new period of labor costs revaluation. If the "salary raise" wave spreads, it will bring pressure to enterprises and affect the survival and development of the manufacturing sector.

"These are individual cases, not the overall situation," Chen Deming said.

But he said these cases also remind us that some new problems emerge in labor wages, and China must carefully deal with them.

He said while the economic crisis has not disappeared completely, and enterprises are still in relatively difficult situation, China needs to ensure that worker's wages rise but will also pay attention to the capability of enterprises to jointly deal with the crisis.

By People's Daily Online


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