A modest pay increase in China’s financial hub reflects wider national efforts to balance economic pressures with social stability From 1 July 2025, Shanghai raised its monthly minimum wage from RMB 2,690 (£288) to RMB 2,740 (£294), a relatively conservative increase of less than 2%. The city’s hourly minimum wage also climbed from RMB 24 (£2.57) to RMB 25 (£2.68). While Shanghai retains the highest minimum wage in the country, …
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The cost of hiring a British or other foreign national in China is set to grow by as much as 30% by 2022, depending on how the company structures its contracts with foreign workers. Joe Cash explains. Next year’s increased costs of employing foreign workers comes as a result of changes to the Individual Income Tax (IIT) system planned for 2022, in line with amendments to China’s tax code that …