China to double workers' wages in five years

Beijing, Apr 19 (ANI): China is likely to increase the average wages of workers by 15 percent annually in a bid to achieve a two-fold increase in pay by the end of 2015, said the Ministry of Human Resource and Social Security (MHRSS)

Yang Zhiming, vice minister, speaking during a national labor relation conference, said 13 provinces have raised their minimum wage by an average of 22.8 percent, with more cities likely to see a pay raise within the year.

Addressing the widening income gap between the wealthy and the poor, Yang said the income of officials should be transparent and payment regulations should be re-examined for people with a high income.

According to China Daily, a report said 90 percent of executives in major Central State-Owned Enterprises could earn in excess of a million Yuan a year.

Yang said the 12th Five-Year Plan (2011-2015) is therefore set to narrow the income gap and re-distribute human resources and money among the high wage earners. (ANI)