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Beijing Residents Earn 3,000 Yuan per Month

Beijing residents average income reached 36,097 yuan (US$4,664) last year but six out of ten earn less than that, according to the latest figures from the municipal statistics bureau.

 

The figure is up 3,289 yuan (US$425) or roughly 10 percent on the previous year.

 

Statistics show that employees in securities, banking, legal, transportation and energy exploration sectors make more than 100,000 yuan (US$12,900) a year. However, workers in the textile and plastics industries earn less than 16,000 yuan and security guards make only 9,000 yuan.

 

The US-based Hay Group, a global consultancy which has the world's most comprehensive global pay databases, predicts China will top world pay rises in 2007.

 

It predicts a 7.9 percent hike for administrative workers, 7.8 percent for professionals and 8.9 percent for senior management, topping the tables for each of the three job categories.

 

China's State Administration of Taxation has ordered individuals whose yearly income exceeds 120,000 yuan (US$15,500) to file an individual income declaration before March 31.

 

This is the first time that the tax administration has required high-income earners to report their earnings.

 

As of March 20, about 200,000 Beijing residents had filed the declaration.

 

Those who fail to report by the deadline will face fines ranging from 2,000 to 10,000 yuan and those who file false reports will face fines of up to 50,000 yuan.

 

(Xinhua News Agency March 29, 2007)


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