Labor unrest surges in China - SupChina

Labor unrest surges in China

  • China labor unrest spreads to ‘new economy’ couriers and sales staff at ecommerce companies / Financial Times (paywall)
    2016 saw a record high of 2,663 labor strikes and protests in China. As fewer young people are willing to join the low-wage, migrant workforce which the country’s manufacturing, construction, and booming new economy have heavily relied upon, China’s labor supply is shrinking significantly. The imbalance has led to a series of problems such as rising wages, increasing salary arrears, and threats to old workers’ social insurance payments that, together, have forced many shops and factories to close.
  • Citic, Baidu get green light to open online bank / Caixin
    A partnership between Chinese internet giant Baidu and state-owned Citic Bank to launch an online bank has received regulatory approval from the Chinese banking authority. In the deal, Citic Bank will hold a 70 percent stake in Baixin Bank, while Fujian Baidu Bo Rui Netcom Science and Technology, a subsidiary of Baidu, will own the remaining 30 percent. The move is Baidu’s attempt to stake a claim to the online banking territory that is currently dominated by its main competitors, Tencent and Alibaba.

Jiayun Feng

Jiayun was born in Shanghai, where she spent her first 20 years and earned a bachelor’s degree in journalism at Fudan University. Interested in writing for a global audience, she attended the NYU Graduate School of Journalism for its Global & Joint Program Studies, which allowed her to pursue a journalism career along with her interest in international relations. She has previously interned for Sixth Tone and Shanghai Daily.