Home
News
In Focus
Business
Metro
Nation
World
Sports
Feature
Opinion
View more »Opinion Columns
Wan LixinOpinion deputy editor of Shanghai Daily
Restaurants get off to a quick start thanks to game-changing policies
High service charges on event ticket refunds call for further regulation
Sunday
- Subscribe
Related News
Less resistance to localize salaries
By Zhang Fengming |
00:00 UTC+8 February 25, 2009
|
Print Edition
Print Edition
COMPANIES on Chinese mainland are expected to face less resistance from expatriates on localization of compensation packages amid the economic downturn, an industry survey said yesterday.
Corporations are still optimistic about the Chinese mainland's economic growth and still see cross-border movements into the mainland increasing, said PricewaterhouseCoopers International Ltd yesterday in Shanghai, quoting a survey finding. The firm surveyed 112 companies on the mainland from July to October, with 92 percent of them multinational companies.
"Chinese mainland remains the top assignment location in Asia," said Stacy Kwok, a partner of the accounting firm. He said that companies could find it easier to lure expatriates to work on the mainland even if compensation packages were to be localized, especially during the current economic climate.
It was difficult previously for firms to localize expatriate remuneration packages on the mainland because of high taxes, different lifestyles and schooling problems for children.
The mainland imposes individual income tax from 5 percent to 45 percent, leaving senior management reluctant to agree to a localized package.
The resistance may ease due to the global economic downturn because China is seen as the major economy which could still post an economic growth, albeit a slower one.
Corporations will also hire more returned Chinese, or so called haigui, who have studied overseas or have working experience abroad, in two years as they understand Chinese and the intricacies of doing business on the mainland, the firm said.
Corporations are still optimistic about the Chinese mainland's economic growth and still see cross-border movements into the mainland increasing, said PricewaterhouseCoopers International Ltd yesterday in Shanghai, quoting a survey finding. The firm surveyed 112 companies on the mainland from July to October, with 92 percent of them multinational companies.
"Chinese mainland remains the top assignment location in Asia," said Stacy Kwok, a partner of the accounting firm. He said that companies could find it easier to lure expatriates to work on the mainland even if compensation packages were to be localized, especially during the current economic climate.
It was difficult previously for firms to localize expatriate remuneration packages on the mainland because of high taxes, different lifestyles and schooling problems for children.
The mainland imposes individual income tax from 5 percent to 45 percent, leaving senior management reluctant to agree to a localized package.
The resistance may ease due to the global economic downturn because China is seen as the major economy which could still post an economic growth, albeit a slower one.
Corporations will also hire more returned Chinese, or so called haigui, who have studied overseas or have working experience abroad, in two years as they understand Chinese and the intricacies of doing business on the mainland, the firm said.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
