More than one-third of China's provincial-level governments have released wage growth targets for workers this year, with most of them trimming salary increases as companies face decreasing profits amid a slowing economy.
Of the 12 local governments that have released wage plans, most have targeted 14-percent wage growth this year, the Economic Information Daily reported Monday.
However, the growth target was off the pace of wage increases earned by workers in many jurisdictions last year. The target set in Hebei and Shaanxi provinces and Shanghai this year were as much as 3 percentage points lower than last year, the report said.
Analysts say the downshift shows local regions are cautious in regulating wage growth as the economic outlook for this year remains uncertain.
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