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Ministry Reveals Wide Income Disparity among Chinese

There's still a wide disparity in the earnings of Chinese, the Ministry of Labor and Social Security said in Beijing on Thursday.

Employees working for overseas companies and those in the financial and insurance sector earned the most on average compared with other companies and industries.

The average annual salary of employees in foreign firms and overseas firms stood at 15,037 yuan (US$1,811.69) and 12,547 yuan (US$1511.69), respectively, in 2000, while that of employees with domestic private firms and collectively-owned enterprises totaled 7,443 yuan (US$896.75) and 7,642 yuan (US$920.72), respectively.

The survey, conducted by the Ministry recently, reveals that employees in the financial sector earned an average of 16,033 yuan (US$1,932) per year, while those working in the agricultural, forestry and fishery sector had a yearly income of 7,650 yuan (US$921.69) to 8,282 yuan (US$997.83).

The survey also says that managers in local companies normally made twice the sum of local workers, but in some cities, the difference is less.

(People's Daily 08/24/2001)

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