23 July 2019

Property service sector hit by rising labor costs, report says

China’s property service sector has been hit by rising labor costs as firms have basically kept most of their service charges unchanged, news portal reported Tuesday, citing an annual report from the China Index Academy. According to the study, the composite service price index in ten major cities, including Beijing, Shanghai and Guangzhou, is up only 0.48 percent from a year earlier. Meanwhile, data shows minimum wages in a number of provinces and cities have been rising more than 10 percent for several years in a row, the report said.

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