Tianjin's New District Surpasses Shanghai's Pudong in 2010

According to the National Development and Reform Commission, Tianjin's Binhai District's GDP surpasses that of Shanghai's Pudong District by more than $20B in 2010. Tianjin's Binhai District is designated as the third pole of China's economic progress, after Shanghai's Pudong and Guangzhou. In 2009, Binhai produced GDP $550B, trailing Pudong's $570B.

Labor Cost Continue Free Falling in GDP

According to Zhang Jianguo, Director of Contract Department of the All-China Federation of Trade Unions, the percentage of labor cost has been declining ever since it peaked in 1983 at 56.5%. In 22 years, the number dropped to 36.7% for 2005.

Through 1980s, a junior employee in a foreign company in Beijing earned Y8,000 ($2,000) per month. Thirty years later, a junior employee in a foreign company in Beijing earns Y5,000 ($1,200) per month.