China Minimum Monthly Wages - 2023 Data - 2024 Forecast - 2006-2022 Historical (2024)

FAQs

What is the average monthly income in China 2023? ›

In China, the average monthly salary is 29,300 Yuan (Chinese Yuan), equating to USD 4,214 (US dollars) per month according to the exchange rate in May 2023 (according to Salary Explorer).

As of 21 Feb, 2023, Shanghai has the highest monthly minimum wage in China's mainland, at 2,590 RMB per month, while Beijing has the highest hourly wage in China's mainland, at 25.3 RMB per hour.

The minimum wage in China is set locally; ranges from RMB 1,420 (US$208.82) per month, or RMB 14.6 (US$2.06) per hour in Liaoning; to RMB 2,420 (US$379.77) per month, or RMB 21 (US$3.30) per hour in Shanghai.

Rate Changes Due to the Minimum Wage Increase – January 1, 2023. Due to the enactment of Senate Bill (SB) 3, the California minimum wage increased to $15.50 per hour, effective January 1, 2023, for all employers.

National Average Salary In China

As of May 29, 2023, the average monthly salary in Mainland China is approximately 29,300 Yuan ($4,214 USD), which translates to an annual pay of around 351,600 Yuan or $49,200 USD.

01 What is the average salary in Mainland China? The average salary for those working in professional services in Mainland China in 2023 is above ¥350,000. Full-time workers in Mainland China on average make ¥29,300 a month, equating to ¥351,600 a year (pre-tax).

Wages in China averaged 16963.76 CNY/Year from 1952 until 2022, reaching an all time high of 114029.00 CNY/Year in 2022 and a record low of 445.00 CNY/Year in 1952. This page provides - China Average Yearly Wages - actual values, historical data, forecast, chart, statistics, economic calendar and news.

The minimum wage is set to ensure that employees are not exploited and receive a fair wage for their work. In some regions of China, the minimum wage has been increasing steadily over the years to keep up with the rising cost of living.

Workers in China are also amongst “a small group globally” who will receive the highest rates of real salary growth this year and the next, Quane said. In 2022, salaries in China increased nominally by 5.9% and will grow by 6% in 2023.

In China, the average monthly wage is 29,300 Yuan (Chinese Yuan), which is equal to USD 4,534 (US dollars) per month based on the currency rate in July 2021, or USD 4,534 (US dollars) per month in the United States. On a monthly basis, the median pay in China is 31,100 Yuan (USD 4,813).

How are wages determined in China? ›

Minimum wage rates in China are determined by regional governments, based on local living costs, local wages and the overall supply and demand for labour. As a result, there is considerable variation in minimum wage levels across major cities, let alone poorer rural areas.

The federal minimum wage is just $7.25 and has not increased since 2009. The Raise the Wage Act of 2019 would gradually raise the federal minimum wage to $15 an hour by 2024.

As U.S. inflation trends downward in 2023, the projected average total salary increase has risen to 4.6%.

The average increase for 2023 will fall between 4% and 5%. Just 11% of companies (compared to 18% of companies last year) said they'll increase base pay by more than 5%, according to the report.

China Economic Update - June 2023

China's GDP growth is projected to rise to 5.6 percent in 2023, led by a rebound in consumer demand. Capital spending in infrastructure and manufacturing is expected to remain resilient. Meanwhile, external demand is expected to remain soft with weak global growth impacting exports.

The average median household income in the United States was $67,521, but most states range between $50,000—$90,000, with few outliers.