China's Minimum Wage Surpasses Bulgaria's

Business | December 29, 2010, Wednesday // 11:15
Bulgaria: China's Minimum Wage Surpasses Bulgaria's China's PM Wen vowed to rein in rising prices. Photo by Wikimedia

The People's Republic of China has declared a 20% increase of the minimum monthly wage, thus in effect making it higher than the minimum wage in Bulgaria.

As of January 1, China's minimum wage will become 1 160 yuan, a second 20% increase in 2010, after in July it reached 960 yuan.

Calculated in Bulgarian lev, the increase is from BGN 215 in July to BGN 260 in January 2011, which will surpass the minimum monthly wage in Bulgaria of BGN 240.

The Chinese government has moved to increase the minimum wage as the food and real estate prices in the country continue to rise, worsening the social imbalances and discontent among the millions of low-paid workers.

In November, China saw its inflation rise by more than 5% for the first time in two years, with food prices growing by 12%.

On Saturday, China's central bank increased the interest rates for the second time in three months. China's PM Wen Jiabao said the government will rein in the prices, keeping them at a sensible level.

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article
Tags: PRC, China, People's Republic of China, Wen Jiabao, inflation, minimum wage
Advertisement
Advertisement
Expats.bg All Are Welcome! Join Now!
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria