Experts say China's excessive consumption of labor wages is only 3%

November 15 Morning News, human resources experts criticized the Chinese economy in the development of excessive consumption of labor, enjoy the rapid increase in labor productivity and low labor costs, low human capital investment in the sharp contrast between the labor dividend, trapped in "low labor cost dependency" in the difficult to sustainable development. 4 paradoxes in the development of human resources in China at yesterday's "China Human Resources Strategic High-level Forum" held at Beijing Normal University, Zeng, dean of Renmin University of People's College of Labor, put forward the concept of "blue price", and he thought that China's rapid economic development enjoyed a high rate of labor productivity　　, low human capital investment, the sharp contrast of the labor dividend, paid by the unlimited supply of labor backing "Blue price."　　He said that 30 years of reform and opening-up, China's GDP growth from 147.3 billion U.S. dollars to 33.5353 trillion U.S. dollars (2009), maintaining an average annual growth rate of nearly 10%, much higher than the same period of the world economy around 3.3% annual growth rate.　　And as a great power of human resources, but there are "labor productivity growth in the world first, but low labor costs"; "The population is huge, but the human capital investment is insufficient", "the supply of human resources to the huge, but the actual adequacy of talent", "the workers work hard, but the income growth mechanism is missing" four paradox. Chinese workers ' wages are only equivalent to those in Europe and the US 3% according to Zeng, the past 5 years, China's labor productivity growth of 5.7% per cent, higher than any other countries and regions, while the average hourly wage of our manufacturing workers is only about 3% of the United States, the European Union and Japan, and less than the　　The wages of skilled workers are less than 10% of their marginal productivity. In the human capital investment level, Canada's share of GDP is 6.9%, the United States is 5.4%, South Korea is 3.7%, India is 3.3%, the world average is 3.1%, and China's ratio is 2.5%;OECD (Organisation for Economic Cooperation and Development)　　The economic contribution rate of national human capital investment is roughly 15-20%, while China is only 4-7%. From the view of China's National Competitiveness Report, China ranks first among the 20 countries in terms of total human resources, but the human capital composition index, which reflects the level of human capital of a country, is only 18th, which means that the number is only 1/12 in the United States and 1/10 in Japan.　　It is reported that China, although the supply of human resources is huge, and the enterprise talent adequacy is only 19.2%, the national management talent gap of 94.5%, scientists and engineers in the enterprise ratio of only 35%, developed countries more than 50%.　　More than 30% of Chinese companies are willing to work overtime, and an average of 7.9 hours a week, China's hourly wage is 0.2 dollars, and Europe and the United States are roughly 25-30 dollars, according to the survey. Low labor cost dependence inhibits domestic demand China's rapid economic development has largely enjoyed a rapidTo improve the labor dividend with low labor cost and low human capital investment, the development trend of world economy has clearly indicated that the comparative advantage brought by low labor cost can not effectively support the sustained and healthy development of national economy. Because capital always flows to the lower cost of labor, and then drives the location transfer of labor-intensive industries. and the low operating and growth of labor income is sluggish, it will not only directly affect the improvement of people's economic standard of living, but also fundamentally restrain the consumption and investment of the citizens, and it will not be conducive to the activation and expansion of domestic demand. The lack of human capital investment would directly affect the process of upgrading the economic structure to the knowledge and intelligence-intensive industries,　　The sustained development of the economy and society has lost its stamina. "The development of China's economy must be from the long-term formation of the ' low labor cost dependence," the breakthrough.　　Zeng Xiang Quan suggested. Experts suggest redesigning the labour market system "in the past the labor force is particularly cheap, so we consume the labor force excessively, and now the labor force is not cheap, we need to intensively use the labor force." Zhang Yansheng, director of the National Development and Reform Commission's Foreign Economic Research Institute, said to Sina finance, "Why is it difficult for college students to find employment, people talk too much about education, why not talk about the labor demand market?" Reidesher, a professor at the School of Economics and Management at Beijing Normal University, proposes to redesign the labour market system and other systems based on the accumulated human capital to provide adequate environment and soil for the release and stimulation of human capital.　　He felt that the ultimate criterion for examining the appropriateness of a system arrangement was whether it was conducive to the enthusiasm and creativity of professionals, and to give innovators more freedom and incentive. The results of "China's strategic research on human Resource Power" released by the Human Development and Management Research Center of Beijing Normal University also mentioned that China's human resource power construction should be based on the reform of system innovation, including adapting to the trend of market, completely changing the standard unification, the role of the examination-oriented education system, and strengthen the human resources development, configuration and management of information construction initiatives, and strive to form China's strategic framework of human resources powerful. (Huayan from Beijing)