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China has been continuously raising the minimum wage for workers recently, yet despite these efforts, some Chinese companies are reportedly slashing wages to absurdly low levels. / Beijing News

An explosive increase is being observed in the number of Chinese companies initiating recruitment while offering dismal wages that do not even meet the legal minimum. Even allowing for the severe economic difficulties currently facing Chinese enterprises, this reality is nothing short of shocking. At present, China's economy is far from doing as well as authorities confidently claim. In fact, synthesizing recent reports from a significant portion of the foreign press justifies the definitive conclusion that the economic reality is considerably grim. This situation is well illustrated by the actual employment rate of highly educated talent graduating from universities around June, which stands at less than 50%.

Consequently, it is exceedingly rare for recruiting companies to offer favorable terms. It is even reported that a considerable number of firms are resorting to slashing wages. A look at specific instances immediately illuminates this reality. A person surnamed P, residing in a major city in Heilongjiang Province, recently confessed via a social media post that they were offered a monthly wage of 300 yuan (approximately 67,800 won) while searching for a job.

P complained, saying, "I was truly dumbfounded to be offered a salary so far below the minimum wage. It made me feel as if I had been transported back 30 years in time." This post instantly triggered a flood of sympathetic comments. Responses included remarks such as, "I was offered 1,200 yuan. Compared to 300 yuan, isn't that a massive amount?" and "It is still much better than being unemployed with nothing to eat." Such reactions suggest that wage-slashing has effectively become the new normal in the job market.

Indeed, compiling recent reports from various media outlets, including the Beijing News, indicates that wage-slashing is a nationwide phenomenon that can hardly be considered unusual. For instance, a primary school in a city in Jilin Province recently recruited kitchen staff and servers for its cafeteria, reportedly offering monthly salaries of 1,500 yuan and 900 yuan, respectively.

The bleak state of the Chinese economy is also clearly evidenced by the emergence of buzzwords like the "35-year-old retirement age" and the "35-year-old curse" in the job market. This reflects an austere reality where individuals face retirement at age 35 due to corporate restructuring and subsequently find it impossible to secure re-employment due to the curse of their age. Under these circumstances, it appears certain that wage-slashing by Chinese companies will persist as the new normal for the foreseeable future.

                                                                                                           Hong Soon-do