Average Salary in China, China income statistics from “China Statistical Yearbook 2009"

Nov. 11, 2009 - PRLog -- Despite the Global Financial Crisis in 2008, the pace of growth in the average salary in China and living standards has remained intact. According to the latest China Statistical Yearbook (released in Oct 2009)

According to the report, the annual growth rate of the national average salary remains at 17.23% in 2008, similar to its pre-GFC level. There are also significant growths in the average salary level in the financial industry with Beijing leading the league with a whopping 37.19% increase compare to the previous year.

The top two industries with the highest paying salary and the fastest growth in China are the Financial Industry and the IT Industry.

In 2003, the National Average Salary for the financial industry was $22,457, compare to $61,841 in 2008. Average salary in this category is increasing by 22.46% per year.

In 2003, the National Average Salary for the IT industry was $32,244, compare to $56,642 in 2008. Average salary in this category is increasing by 11.93% per year.

The fastest growing sector is the security sector in the financial industry. In 2003, it was $42,582, compare to $172,123 in 2008. Average salary in this sub category is increasing at a rate of 32.23% per year.

-------------------------------------------------------2006---------2007---------2008

National Average-------------------------------$21,001---$24,932----$29,229
Growth % compare to previous year---------------------18.72%----17.23%

National Average (Financial)----------------$39,280---$49,435----$61,841
Growth % compare to previous year---------------------25.85%----25.10%

Beijing Average---------------------------------$40,117---$46,507----$56,328
Growth % compare to previous year---------------------15.93%----21.12%

Beijing Average (Financial)-----------------$113,092---$129,082---$178,322
Growth % compare to previous year----------------------14.93%-----37.19%

*Data sourced from China Statistical Yearbook 2009

With such fast growth, it is expected average salary in the financial and IT categories are going to catch up with their peer levels in the oversea markets in the very soon coming future.

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Eugene Yao, international financial journalist, conducts interviews regularly with listed companies’ management from around the world. His articles can be found on Thomson Reuters, Bloomberg, Financial Times, Google News and finance etc...