Commentary: China’s New Year pay hike can’t mask its deeper economic troubles

MORE MEASURES NEEDED

Civil service jobs in China are highly coveted, as evidenced by the report 3.4 million candidates who sat for the quarterly civil service exam last quarter, competing for only 39, 700 opportunities. These tasks are often seen as an “iron grain bowl”, offering stability and security.

However, it is difficult to calculate how much a legal servant’s ‘ salary actually earns due to the layered structure of their earnings. During the past give hike in 2015, it was reported that regular standard pay ranged from 1, 320 renminbi for the lowest-ranked civil servants to 11, 385 yuan for national-level officials. Civil servants are also entitled to various accommodations and subsidies according to their rank and rank in addition to standard give.

The most recent pay raise is good meant to underscore that civil servants are essential to the proper functioning of the government and that they are responsible for maintaining their moral character. But the magnification of it risk alienating the broader community, especially private-sector personnel who face rising employment insecurity.

A clear plan could fail by provoking public scrutiny or generating extra demands, which contributes to the relative secrecy surrounding pay raise for legal servants.

In his New Year information, President Xi Jinping expressed his confidence in China’s market but acknowledged the Chinese government faces “new parameters”, including issues internally and externally.

To handle these issues, China may acquire long-term reforms that go beyond one-off spend adjustments.

To maintain and promote private investment, the Taiwanese government needs to take steps privately to identify the rule of law based on the fundamental rights of private home.

China will need to collaborate more strongly with its main business partners, including the United States and the European Union, to improve their current cooperation and establish proper respect.

As Xi said:” Dreams and wishes may be far, but they can be fulfilled with dedicated pursuit”.

Bo Zhiyue is the author on China’s elite politics and the founder and president of the Bo Zhiyue China Institute, a consulting firm that provides services to government officials and CEOs of multinational corporations.