Report says China faces sustained accelerated wage increases over the next 5 years

The Chinese People's University macroeconomic research scholars believe that China's low-end labor market in recent years, the structural inflection point changes opened the overall wage formation mechanism changes, will determine China in the next 5 years or so, facing the continuous acceleration of market-oriented wage increase. China's macroeconomic Analysis and prediction report (three quarter 2010), which was published by the Institute of Economics of Renmin University and the East China Sea Securities Corporation, was subject to adjustment of China's economic structure under the change of wage formation mechanism. According to the report, the wage-forming mechanism of China's low-end labor market is shifting from the traditional "living wage pricing law" to "the rule of market bargaining under the reservation of wage restriction". (Reporter Ma Wenting)