![]() Last year, at least 11,000 foreign firms, mostly in Chinese coastal cities, canceled their company registrations, compared with a net increase of 8,000 foreign companies registered in 2020,, a Chinese industry data provider, said in an article on Sunday. US and China trade tensions could be set to rise again. Meanwhile, more and more production lines have moved from China to Southeast Asian countries, with Vietnam emerging as a particularly big winner. The trade war between the US and China intensified in 2018, and last year the Joe Biden administration vowed to restructure the global supply chain in response to Beijing’s state-centered and non-market trade practices. In 2014, South Korea’s Samsung Electronics said it would shift away from China and build a new smartphone factory in Vietnam for $3 billion. It further increased to 1,895 yuan by 2015 and hit 2,100 yuan or US$313 last year.Ĭurrently, the basic wage of garment workers is about $243 in Indonesia, $190 in Cambodia, $157 in Myanmar and $95 in Bangladesh, according to Statista, a consumer data provider based in Germany.īetween 20, several Japanese printer makers such as Fuji Xerox, Kyocera, and Canon announced their plans to move their production lines to Vietnam as labor costs in China, plus other costs, were rising rapidly. In Guangzhou, the monthly minimum wage almost doubled by 2008 to 860 yuan (US$128) from 450 yuan in 2001. In the 2000s, China started increasing its minimum wage. Hong Kong was then transformed into an Asian financial hub while mainland China became the world’s largest manufacturing hub. Hong Kong, Singapore, South Korea and Taiwan had once been praised as four Asian “dragons” between the 1960s and 1990s as their factories supplied the Western world with low-cost manufacturing products.Īfter China started opening up its economy in the 1980s, many Hong Kong manufacturers moved northward to the Pearl River Delta and the Yangtze River Delta. Investment in China’s high technology sector grew 20.5% in the first five months of this year from a year earlier, compared with a 27% year-on-year growth during the first quarter, NBS data shows.Ĭhina during its development process has experienced the usual ups and downs. (China’s official data, including headline economic growth figures, is notoriously skewed in favor of Beijing’s policy objectives.) Still, that averaged out to growth of 22.6% in the first five months of this year from a year previously. The year-on-year growth rate of China’s foreign direct investment (FDI) slowed to about 6% in both April and May from 31.7% in the first quarter of this year, the National Bureau of Statistics (NBS) said on June 16. ![]() Overall, official data on foreign direct investment by Chinese manufacturers don’t show a mass exodus from China-based manufacturing. This story has been edited to correct the spelling of Pinduoduo.After many textile and furniture manufacturers in China moved to Bangladesh and Indonesia in the past decade, the current wave of production migration involves mainly companies that produce consumer electronic products such as smartphones and tablets. While Chinese labor law limits the work week to five days and no more than 44 hours, increasing numbers of people work outside the state sector or in the informal economy where such regulations tend not to be adhered to as closely.Ĭhina also outlaws independent labor organizing, allowing only one union, the tightly party-controlled All-China Federation of Trade Unions. Worldwide, the tech sector is known for demanding long hours spent designing, coding and processing customer requests. The ruling Communist Party’s flagship People’s Daily newspaper even weighed in at the time, saying it was unfair of dictatorial managers to demand excessive overtime. Monday through Saturday, with many arguing that would further discourage young people from marrying and having children. Ma drew controversy in 2019 by endorsing the “996” week, entailing working from 9 a.m. Grueling hours have long been a hallmark of China’s tech industry, heralded by business luminaries such as Alibaba’s Jack Ma, one of China’s richest and most prominent entrepreneurs. Few details have been released, other than that the woman apparently suffered stomach pains before collapsing, but internet users have seized on the case as an example of the health impacts of long working days. 29 death of a 22-year-old employee of Pinduoduo as she was walking home with a colleague at 1:30 a.m. “Strengthening the protection of legal rights and interests for workers, letting those chasing their dreams run along in a healthy manner and introducing more warmth into the development of enterprises - that’s the form striving should take,” the news agency said.
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