Restructuring urgent to support higher salaries in private sector

THE NATIONAL BUREAU of Statistics recently released the average salaries in various sectors last year. Beijing Youth Daily commented:

Those working in the financial sector still enjoy the highest average salary of 114,777 yuan ($17,572) a year, almost twice the average for all urban employees. In the mining industry, the average salary was 3.7 percent less than the year before. This was the only sector in which the average salary fell.

The excessive liquidity and fluctuations in the securities market in recent years have contributed to the high average salary in the financial sector, as have fast growing credit loans and underground financial activities. Such situation has already had a negative effect upon the normal economic order.