The combination of a 24% rise in the yuan against the dollar and a 21% increase in Chinese unit labour costs, relative to America's, explains the steep appreciation shown in the chart.
The profit at the Chinese unit of HSBC Holdings PLC, the largest foreign bank in China with more than 130 outlets, rose to 3.42 billion yuan in 2011, almost four times that of the previous year, after rising 28% in 2010.
"In China we are jealous of our HR co-workers in the U.S., " where online recruiting platforms are more mature and can attract qualified candidates, said Willa Wang, talent acquisition director at Lenovo China, the Chinese unit of Hong Kong-based personal computer company Lenovo Group Ltd.
What really matters for jobs and competitiveness is not consumer price inflation, but the rate of change of unit labor costs. (Unit labor costs are wage rates adjusted for changes in productivity.) A recent study from the Boston Consulting Group suggests that Chinese unit labor costs will grow at about 8.5 percent per year over the next five years.
Citic Trust is a unit of Chinese financial conglomerate Citic Group Corp.
The figures for China are harder to come by, but rising prices and wages mean that unit labour costs for Chinese firms have probably been rising by between 2.5% to 4.3% a year.
After tasting success in the Chinese auto market, General Motors and its Chinese partner SAIC Motor Corp now plan to turn around the fortunes of its Indian unit, General Motors India, in which the Chinese auto maker has a 50% stake.
FORBES: GM Stock Good For Drive To $25 With Room To Improve In India
Our Dec. 10 story on the Chinese shipping giant Cosco Group referred to a Hong Kong-listed unit, China Cosco Holdings.
That unit is separate from its domestically focused unit, Central Huijin, which holds its stakes in Chinese banks, though CIC still controls both.
So he turned to K2's fishing-gear unit, which produced 8 million rods a year at its Chinese plant.
The program was halted due to high unit cost of F-22 and delays in Russian and Chinese fifth-generation fighter jet programs.
FORBES: Lockheed Still Faces Headwinds Despite Raised Guidance
Final deliveries of the F-22 were completed in the second quarter of 2012, and thereafter the production was halted citing high unit costs for F-22 and delays in Russian and Chinese fifth-generation fighter jets.
FORBES: Lockheed's Earnings: Lower Defense Spending Impact In Focus
She oversaw additional store openings and the creation of new pieces and product lines in an effort to compete with a growing number of rivals with less expensive offerings, including West Elm, a unit of Williams-Sonoma, and Chiasso of Chicago, not to mention Chinese-made knockoffs of modernist pieces.
Alibaba recently transferred ownership of the unit to Alibaba CEO Jack Ma, a move the company said was necessary to comply with Chinese regulations barring foreign investment in domestic online payment services.
FORBES: Yahoo, Alibaba, Softbank Still Talking On Status Of Alipay
应用推荐