Shanghai loses out on rising labor costs
By Wang Yanlin |
March 1, 2012, Thursday
|
Print Edition
Print Edition
SHANGHAI has lost its title as the most competitive region on the Chinese mainland in 2010 due to growing labor costs, and fell to third spot a report by the Chinese Academy of Social Sciences said yesterday.
Jiangsu Province was first and Guangdong Province in the south of the country came in second, according to the report.
The calculation was based on key economic data collected between 2006 and 2010, and the results were expected to serve as a guide for the 12th Five-Year Plan from 2011-2015.
Jin Bei, an economist at the CASS, said coastal cities were less competitive compared with several years ago mainly because of rapidly growing labor costs.
"For cities like Shanghai, the development of service industry, like finance, is important. But they should also make use of their long-established advantages to explore advanced manufacturing," Jin said.
Shanghai's economy grew 8.2 percent from a year earlier in 2011, among the slowest of China's provinces and municipalities.
Regions in East China had their competitiveness evaluation enhanced by 0.51 point, while Central and West China caught up quickly.
Jiangsu Province was first and Guangdong Province in the south of the country came in second, according to the report.
The calculation was based on key economic data collected between 2006 and 2010, and the results were expected to serve as a guide for the 12th Five-Year Plan from 2011-2015.
Jin Bei, an economist at the CASS, said coastal cities were less competitive compared with several years ago mainly because of rapidly growing labor costs.
"For cities like Shanghai, the development of service industry, like finance, is important. But they should also make use of their long-established advantages to explore advanced manufacturing," Jin said.
Shanghai's economy grew 8.2 percent from a year earlier in 2011, among the slowest of China's provinces and municipalities.
Regions in East China had their competitiveness evaluation enhanced by 0.51 point, while Central and West China caught up quickly.
- 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.
