Published on: 2017-07-31
Director of IEMS Albert Park discussed findings of CEES during the Money Talk radio program on RTHK Radio 3. He mentioned that one of the most comprehensive surveys was intended to help “understand how Chinese manufacturing firms are coping with very challenging environment of rising wages and slowing external demand”.
Among the biggest challenges Chinese firms are currently facing Professor Park named losses that about 20% of firms are suffering, rising labor costs that make China a no longer cheap production country, shortage of labor due to high turnover amounting to 26%, insufficient demand, and overall struggle with productivity growth.
Despite those facts it is necessary to see how the economic situation unfolds as the country moves forward, added Albert Park.
Listen to the full podcast Money Talk: Challenges Facing Chinese Manufacturers
Watch the Interview on Facebook Live
[Bio] Albert Park
[Press-Release] China Employer-Employee Survey Releases First Report
Photo by Chris / Flickr. CC BY-NC 2.0 https://flic.kr/p/8YKhk5Tags: automation, CEES, china, innovation, labor, labor market, manufacturing, Manufacturing in China, skilled labor, wages