Guangdong’s consumption expansion plan urges measures to boost household income,
refining factor-based distribution to reward skill and knowledge and to give
higher pay to more hours, higher-skilled and innovative workers. The province
will optimize minimum-wage assessment and regular adjustment mechanisms,
implement provincial minimum-wage standards and aim to steadily raise incomes
for low-wage workers; it will set up a provincial–city–district three-tier
corporate wage survey and disclosure system and promote collective wage
bargaining. Authorities will ease the operating environment for SMEs and
self-employed firms via lower financing-guarantee fees and tax relief. The plan
encourages listed companies to establish normalized dividend mechanisms, directs
stronger market-cap management of state-controlled listed companies, and calls
for expanded supply of personal pension products.
