First-ever joint European-Chinese study on the Chinese Labor Market illustrates modernization and reveals severe skills shortage and ageing problem
Zurich, Switzerland - December 5, 2007. China is in the midst of its biggest ever modernization of labor laws and labor market regulation, starting to come into force on January 1, 2008. The labor reforms grant the individual worker more employment protection rights enforceable by law and mean more legal certainty for foreign employers. The reforms are getting underway while China is facing an increasing lack of skilled workers and a rapidly ageing workforce, threatening to be the biggest dangers in securing long-term economic growth. These are the findings of the first-ever joint European-Chinese research study on the Chinese labor market by the Shanghai Academy of Social Sciences (SASS) and the Adecco Institute (London), done in cooperation with the University of Warwick (UK) and published today in Zurich, Switzerland.
"We regard the planned Chinese labor law reforms as a breakthrough and big leap towards International labor market standards. Collective wage agreements, employment rights that are enforceable by law, and dismissal protection no longer remain taboos in China. The new labor laws have unmistakable German and British flavors. It is a good example of China's increasing openness to adopt foreign best practices", said Wolfgang Clement, Chairman of the Adecco Institute and former German minister for Economics and Labor.
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