Continuous increase in labor price will accelerate provincial industrial transfer

Since this year, the rise in domestic wage prices has aroused concern, the first half of the coastal areas of some factories have continued to rise in wages.　　China is set to usher in a period of continued wage inflation, the FT said recently. Contrary to popular belief, in China, wages have been rising for some time in spite of the decline in the share of national output.　　According to Morgan Stanley, in the past 10 years, real wages in the manufacturing sector have risen by 12.7% a year, while the United States has fallen by 0.5% per cent a year. These changes are significant. Guangdong and other coastal provinces, some factories are gradually moving to China's inland areas. Factories that make car parts or precision electronic devices may stay in place. But clothing, shoes and some small parts of the production of low-end products, it is easier to migrate. Poorer inland provinces, such as Anhui, Jiangxi and Hubei, have traditionally been the province of migrant workers, and are now becoming the site of their factories.