Foxconn Electronics (Hon Hai Precision Industry) has announced plans to raise the minimum wage at its Shenzhen plant to 2,000 yuan (US$292.68) on October 1.

In addition, Foxconn will also adjust salary levels at its other production sites to meet the local price index and government policies, and will make related announcements starting July 1.

Foxconn also noted that the assessment will not be a one time only-deal, and it will continue to hold more assessments in the future to keep up employee quality.

Foxconn's current minimal wage at the Shenzhen plant is about 1,200 yuan, similar to the average minimal wage of 1,100 yuan in eastern China and 1,120 yuan in Shanghai. With Foxconn raising its minimal wage, it has already put pressure on other players in the region, according to a Chinese-language Apply Daily report citing market watchers.

By: DocMemory
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