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Latest Business News

Report: China Raises Minimum Wages

Friday, June 29, 2007 1:26:07 AM

BEIJING (AP) - China's government has ordered minimum wages raised to help the poor cope with soaring food costs, a state news agency reported Friday.

Chinese leaders have been alarmed by a spike in inflation that saw the price of eggs rise 37.1 percent in May from their price in the same month last year. Meat and poultry were 26.5 percent more expensive in May compared to a year ago.

The increase "would have a great impact on low-income families," the Xinhua News Agency said.


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