SHANGHAI -- Managers of more than 200 enterprises in Shanghai, China's business hub, promised Saturday they would not cut jobs or salaries in the wake of global financial crisis.

"Enterprises should face challenges posed by the severe economic situation and take courage to fulfil social responsibilities," said a declaration by managers attending the activity of offering help and service to the local workers.

The activity was held by Shanghai Municipal Trade Union Council (SMTUC).

"We would not lay off workers so as not to increase the burden of the society," the declaration said.

Jiang Xiaoming, general manager of Shanghai Xiangsa Property Management Co. Ltd, said senior workers would see their monthly wages rise by 50 yuan ($7.3) to several hundred yuan.

"Despite the difficulties, we decide to raise the wages so that workers can enjoy a happy Spring Festival, the most important holiday for the Chinese."

More than 280 enterprises held job fairs Saturday to offer about 2,200 posts, mostly to job-hunters in the service industry, migrant workers, senior labors or those who wanted to start businesses.

Trade unions of all levels in Shanghai are expected to raise more than 140 million yuan before the Spring Festival to help more than 300,000 workers who live a hard life, said a SMTUC official.