Minimum Wages in China is expected to reach 2590.00 CNY/Month by the end of 2023, according to Trading Economics global macro models and analysts expectations. In the long-term, the China Minimum Monthly Wages is projected to trend around 2650.00 CNY/Month in 2024, according to our econometric models.
Maximum and minimum salary range
The average salary in China ranges from 7,410 Yuan per month (USD 1,066) to 131,000 Yuan (USD 18,842) per month — with 7,410 Yuan being the minimum salary and 131,100 Yuan being the maximum salary.
National Average Salary In China
As of May 29, 2023, the average monthly salary in Mainland China is approximately 29,300 Yuan ($4,214 USD), which translates to an annual pay of around 351,600 Yuan or $49,200 USD.
The minimum wage in China is set locally; ranges from RMB 1,420 (US$208.82) per month, or RMB 14.6 (US$2.06) per hour in Liaoning; to RMB 2,420 (US$379.77) per month, or RMB 21 (US$3.30) per hour in Shanghai.
Average Costs in China
According to research conducted by pandabuddy.net, the average cost of living in China ranges between $380-$1500, depending on the city. The majority of that money is spent on rent and utilities, which ranges from $250-$1000.
The average annual salary in Australia is $68,900 and $35.30 per hour. It is just the average salary for basic workers but skilled and experienced workers also earn around $108,980 annually. The average salary also varies depending on the field of work and the job role of workers.
The national minimum wage increase
The Australian Government's Fair Work Commission has announced an increase in the national minimum wage. Following the Fair Work Commission (FWC) Annual Wage Review 2022-23, the Australian national minimum wage has now increased to $23.23 per hour.
The National Minimum Wage
This is the minimum pay rate provided by the Fair Work Act 2009 and is reviewed each year. As of 1 July 2023 the National Minimum Wage is $23.23 per hour or $882.80 per week.
Types of jobs available in China
Some of the most common types of jobs in China include manufacturing and assembly line jobs, technology-related jobs such as software engineering and web development, and finance-related jobs such as accounting and investment banking.
Monthly surveyed urban unemployment rate in China June 2021-2023. In June 2023, the surveyed unemployment rate in urban areas of China ranged at 5.2 percent, remaining flat from the previous month. The quarterly unemployment rate in China stood at 5.2 percent in the second quarter of 2023.
The most common definition currently seen in China is the scope set by the National Bureau of Statistics (NBS), which defines the “middle-income group” as a typical three-person household that earns between RMB 100,000 to RMB 500,000 (approx. US$14,844 to US$74,221 in 2022) per year.
With an GNI per capita of $10,610 in 2020, China is an upper middle-income country. The poverty line for an upper middle-income country is $5.5 per day at PPP. As of 2020, China has succeeded in eradicating absolute poverty, but not the poverty defined for upper middle-income countries which China belongs to.
According to China's National Bureau of Statistics, national gross domestic product per capita reached 85,698 yuan in 2022, or about US$12,741 based on the yuan's average exchange rate last year. That puts the country just slightly below the World Bank's high-income threshold of US$13,205, as of July 2022.
According to Expatistan, this means Australia is one of the most expensive places to live (ranked 10 out of 71). Generally, a higher cost of living means that basic expenses have become – well, expensive.
Employers in Australia are legally allowed to pay workers under 16 years old $7.87 per hour. This equates to 36.8 per cent of the Australian minimum wage for legal adults.
The average Bunnings Warehouse hourly pay ranges from approximately $23 per hour for a Casual to $29 per hour for a Trade Specialist. Bunnings Warehouse employees rate the overall compensation and benefits package 3.7/5 stars.
A family of four estimated monthly costs are 3,877.4$ (5,831.5A$) without rent. A single person estimated monthly costs are 1,099.1$ (1,653.0A$) without rent. Cost of living in Australia is, on average, 0.7% higher than in United States. Rent in Australia is, on average, 18.1% lower than in United States.
Belgium. Belgium has a minimum wage of 1,954.99 euros ($2,143) per month since December 2022.
The Australian middle class has a median household income of AUD$80,000. This statistic is a key indicator of the financial health of the Australian middle class.
What is the poverty line? The OECD defines the poverty line as half the median household income. In Australia, the poverty line works out to be $489 per week for a single adult, and $1027 per week for a couple with two children.
Australia has a far higher minimum wage, never ending welfare and less poverty. This also contributes to Australia being far safer. Australia has universal healthcare. Being sick does not bankrupt people in Australia, while every American is an illness with insurance decline away from bankruptcy.