Labor Market
& Salary Report
2017 | 2018
In partnership with
Labor Market
& Salary Report
SE
PT
EM
BE
R01
7In partnership with
Labor Market & Salary Report 2017 | 2018
10th Edition
KEY DEVELOPMENTSEconomic Environment
official annual growth target of 6.5%. Slower growth rate
expected for the second half, with a probable annual
growth of 6.7% for 2017.
contributing to 54.1% of China’s GPD as of 2017Q2.
However, manufacturing / mining remains the highest
single industry contributor to China’s economy,
accounting for 34.4% of total GDP.
investment, with excessive levels of debt (2.77 times
China’s GDP) being the main cause of concern.
Labor Market
the non-mandatory target of 60% by 2020, allowing for
further contribution of the services sector to the economy
and helping to alleviate the shrinking labor force in China.
headcount, according to June’s 2017 Caixin / Markit
purchasing managers’ index (PMI) on employment. If only
considering service companies’ hiring intentions, the
proportion climbs up to 9.0%.
introduced in 2017 so far to raise retirement age; lack of
significant hukou reform contributes to the stagnation of
migratory flows.
National Wage Developments
after a 2015 rebound where salaries grew by 10.1%.
more moderate pace than wages.
wage guidelines in attempt to keep their local economies
competitive.
10.20
8.90 8.80
8.10
7.10
6.23 5.90
2012201320142015201620172018
Wage Growth Development at German Companies in
China (%) Nominal growth
Wage Developments at German Companies
increases of 5.90% in 2018, in line with the general
downward trend the survey has been recording since
2012.
expect wage increases above last year. For the latter,
expected wage growth in 2018 comes from Kunshan
(6.43%) whereas Taicang presents a more moderate wage
increase (6.07%).
senior professionals – are to expect lower wage increases
than last year’s expectations at China level. However,
differences apply at regional level.
Productivity and HR Environment at German
Companies
companies see productivity gains on par with wage
increases, and 58.2% consider it is likely that in the future
productivity increases will match wage increases.
qualified professionals remain the top three HR related
issues.
are supplementary medical insurance and annual medical
check-up as well as cash-related benefits such as annual
variable bonus / sales commission, meal and
transportation allowances and supplementary housing
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