China’s manufacturing costs ‘no advantage’
China no longer has an advantage in labor costs due to increases in manufacturing wages in recent years, according to a report.
The study, conducted by the Institute of Industrial Economics with the Chinese Academy of Social Sciences, said pay in China’s manufacturing industry had seen substantial growth, far exceeding that in Southeast and South Asian countries.
Average pay for a worker in Shanghai is $495 per month, double the wage for Jakarta, three times that in Hanoi and 1.88 times that of Mumbai, the study said.
But the big increase in manufacturing costs is unlikely to continue in the next few years when China will give more priority to economic upgrading and restructuring it noted. (Photo 5)
A hat of Napoleon’s is shown at an exhibition in Tianjin on Dec 9 as part of activities marking the 50th anniversary of Sino-French diplomatic relations. The exhibition features 208 items, including oil paintings and documents, that show the life of Napoleon.