China
Report: Workers in China and India Most Likely to Play Hooky
Sajjad Hussain/AFP/Getty Images Worker dedication may not be the root cause of China’s and India’s booming economies. Among all the possible explanations for why China and India have experienced explosive economic growth in recent years, worker dedication doesn’t appear to be one of them. According to a new Harris International survey on worker absences, workers in China and India – the world’s second and 10 th largest economies, respectively – are the most likely to take bogus sick days. The survey, conducted on behalf of Massachusetts-based workforce management firm Kronos, found Chinese workers were the most likely to play hooky, with 71% admitting they had called in sick despite not actually being sick. India came in second with 62% of workers copping to the lie. France finished last (or first?) with 16% while the U.S. (52%) and U.K. (43%) finished in the middle. Credits for book covers and movie posters/stills – The credit has to be given to the book publisher or the producer of the movie. The survey , based on responses from more than 9,000 people in eight countries, was conducted in July and did not include a sampling error. Does this mean Chinese and India workers are lazier than their French counterparts? Not necessarily. As Joyce Maroney, director of Kronos-sponsored think tank the Workforce Institute, points out in an interview with Reuters , France is among the most generous countries in giving workers paid time off with a mandated minimum of 30 days per year. China (10 days minimum) and India (12 days minimum), meanwhile, are among the worst. “One could surmise that in those countries where more paid time off is given, people are less compelled to call in sick when they are not actually sick,” Ms. Maroney said in the interview. Vacation time has been the subject of fierce debate in China, particularly since 2007, when the country abolished the long May Day “Golden Week” holiday and replaced it with three shorter holidays spread throughout the year. Among the complaints: Chinese companies were hesitant to grant paid holidays at other times of the year. “Chinese people play hooky so they don’t die on the job,” joked a user of China’s popular Sina Weibo microblogging service writing under the name Xingruyu2001 in response to the survey results. “The worker’s compensation claims would be an inconvenience to our leaders.” In India, meanwhile, part of the issue is also the contrast between the busy workaholic ethos of the city and the leisurely pace of traditional Indian family life. “In the village, I could go to work whenever I wanted and take rest when needed,” says Amit Kumar, a 18-year-old worker at a New Delhi restaurant who recently arrived in the city from a village in the northern Indian state of Uttar Pradesh. “Here I hardly get any leave and it’s always work.” He says he feigns sickness once or twice a month and goes to visit new places in the city or simply rests at his room. His friends at the restaurant also do so, he says. While China had the highest percentage of respondents – 45% — saying they thought employers could solve the problem by providing more time off, only a quarter of Indian workers felt the same way. Interestingly, China and India were among the only places were a majority of workers said employers used an automated system to keep track of absences – something Kronos elsewhere claims can increase a company’s bottom line by as much as 10%. – Josh Chin, with contributions from Krishna Pokharel.
- Sajjad Hussain/AFP/Getty Images
- Worker dedication may not be the root cause of China’s and India’s booming economies.
Among all the possible explanations for why China and India have experienced explosive economic growth in recent years, worker dedication doesn’t appear to be one of them.
According to a new Harris International survey on worker absences, workers in China and India – the world’s second and 10th largest economies, respectively – are the most likely to take bogus sick days.
The survey, conducted on behalf of Massachusetts-based workforce management firm Kronos, found Chinese workers were the most likely to play hooky, with 71% admitting they had called in sick despite not actually being sick. India came in second with 62% of workers copping to the lie.
France finished last (or first?) with 16% while the U.S. (52%) and U.K. (43%) finished in the middle.
Credits for book covers and movie posters/stills – The credit has to be given to the book publisher or the producer of the movie.
The survey, based on responses from more than 9,000 people in eight countries, was conducted in July and did not include a sampling error.
Does this mean Chinese and India workers are lazier than their French counterparts? Not necessarily.
As Joyce Maroney, director of Kronos-sponsored think tank the Workforce Institute, points out in an interview with Reuters, France is among the most generous countries in giving workers paid time off with a mandated minimum of 30 days per year. China (10 days minimum) and India (12 days minimum), meanwhile, are among the worst.
“One could surmise that in those countries where more paid time off is given, people are less compelled to call in sick when they are not actually sick,” Ms. Maroney said in the interview.
Vacation time has been the subject of fierce debate in China, particularly since 2007, when the country abolished the long May Day “Golden Week” holiday and replaced it with three shorter holidays spread throughout the year. Among the complaints: Chinese companies were hesitant to grant paid holidays at other times of the year.
“Chinese people play hooky so they don’t die on the job,” joked a user of China’s popular Sina Weibo microblogging service writing under the name Xingruyu2001 in response to the survey results. “The worker’s compensation claims would be an inconvenience to our leaders.”
In India, meanwhile, part of the issue is also the contrast between the busy workaholic ethos of the city and the leisurely pace of traditional Indian family life.
“In the village, I could go to work whenever I wanted and take rest when needed,” says Amit Kumar, a 18-year-old worker at a New Delhi restaurant who recently arrived in the city from a village in the northern Indian state of Uttar Pradesh. “Here I hardly get any leave and it’s always work.” He says he feigns sickness once or twice a month and goes to visit new places in the city or simply rests at his room. His friends at the restaurant also do so, he says.
While China had the highest percentage of respondents – 45% — saying they thought employers could solve the problem by providing more time off, only a quarter of Indian workers felt the same way.
Interestingly, China and India were among the only places were a majority of workers said employers used an automated system to keep track of absences – something Kronos elsewhere claims can increase a company’s bottom line by as much as 10%.
– Josh Chin, with contributions from Krishna Pokharel.
China has generally implemented reforms in a gradualist or piecemeal fashion.
One demographic consequence of the “one child” policy is that China is now one of the most rapidly aging countries in the world.
China is the world’s fastest-growing major economy, with an average growth rate of 10% for the past 30 years.
Nevertheless, key bottlenecks continue to constrain growth.
Its mineral resources are probably among the richest in the world but are only partially developed.
China has acquired some highly sophisticated production facilities through trade and also has built a number of advanced engineering plants capable of manufacturing an increasing range of sophisticated equipment, including nuclear weapons and satellites, but most of its industrial output still comes from relatively ill-equipped factories.
Over the years, large subsidies were built into the price structure, and these subsidies grew substantially in the late 1970s and 1980s.
China now ranks as the fifth largest global investor in outbound direct investment (ODI) with a total volume of $56.5 billion, compared to a ranking of 12th in 2008, the Ministry of Commerce said on Sunday.
Last year was the eighth consecutive year that the nation’s ODI had grown.
China is aiming to be the world’s largest new energy vehicle market by 2020 with 5 million cars.
Although China is still a developing country with a relatively low per capita income, it has experienced tremendous economic growth since the late 1970s.
Agriculture is by far the leading occupation, involving over 50% of the population, although extensive rough, high terrain and large arid areas – especially in the west and north – limit cultivation to only about 10% of the land surface.
China is the world’s largest producer of rice and wheat and a major producer of sweet potatoes, sorghum, millet, barley, peanuts, corn, soybeans, and potatoes.
Hogs and poultry are widely raised in China, furnishing important export staples, such as hog bristles and egg products.
There are also extensive iron-ore deposits; the largest mines are at Anshan and Benxi, in Liaoning province.
Alumina is found in many parts of the country; China is one of world’s largest producers of aluminum.
The largest completed project, Gezhouba Dam, on the Chang (Yangtze) River, opened in 1981; the Three Gorges Dam, the world’s largest engineering project, on the lower Chang, is scheduled for completion in 2009.
Beginning in the late 1970s, changes in economic policy, including decentralization of control and the creation of special economic zones to attract foreign investment, led to considerable industrial growth, especially in light industries that produce consumer goods.
There are railroads to North Korea, Russia, Mongolia, and Vietnam, and road connections to Pakistan, India, Nepal, and Myanmar.
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Report: Workers in China and India Most Likely to Play Hooky
Business
China’s Golden Rooster Film Festival Kicks Off in Xiamen – Thailand Business News
The 2024 China Golden Rooster and Hundred Flowers Film Festival began in Xiamen on Nov 13, featuring awards, cultural projects worth 31.63 billion yuan, and fostering international film collaborations.
2024 China Golden Rooster and Hundred Flowers Film Festival Opens
The 2024 China Golden Rooster and Hundred Flowers Film Festival commenced in Xiamen, Fujian province, on November 13. This prestigious event showcases the top film awards in China and spans four days, concluding with the China Golden Rooster Awards ceremony on November 16.
The festival features various film exhibitions, including the Golden Rooster Mainland Film Section and the Golden Rooster International Film Section. These showcases aim to highlight the achievements of Chinese-language films and foster global cultural exchanges within the film industry.
On the festival’s opening day, a significant milestone was reached with the signing of 175 cultural and film projects, valued at 31.63 billion yuan ($4.36 billion). Additionally, the International Film and Television Copyright Service Platform was launched, furthering the globalization of Chinese film and television properties.
Source : China’s Golden Rooster film festival opens in Xiamen – Thailand Business News
China
Italy and China New DTA Set to Take Effect in 2025: Important Changes and Implications
Italy ratified an upgraded Double Tax Agreement (DTA) with China, effective in 2025, to reduce tax burdens, prevent evasion, and enhance investment. The DTA introduces modern provisions aligned with international standards, targeting tax avoidance and improving dispute resolution for Italian businesses.
Italy recently ratified the upgraded Double Tax Agreement (DTA), which will finally take effect in 2025. This agreement was signed in 2019 and was designed to reduce tax burdens, prevent tax evasion, and promote Italian investment in China.
On November 5, 2024, Italy’s Chamber of Deputies gave final approval to the ratification of the 2019 Double Tax Agreement (DTA) between Italy and China (hereinafter, referred to as the “new DTA”).
Set to take effect in 2025, the new DTA is aimed at eliminating double taxation on income, preventing tax evasion, and creating a more favorable environment for Italian businesses operating in China.
The ratification bill for the new DTA consists of four articles, with Article 3 detailing the financial provisions. Starting in 2025, the implementation costs of the agreement are estimated at €10.86 million (US$11.49 million) annually. These costs will be covered by a reduction in the special current expenditure fund allocated in the Italian Ministry of Economy’s 2024 budget, partially drawing from the reserve for the Italian Ministry of Foreign Affairs.
During the parliamentary debate, Deputy Foreign Minister Edmondo Cirielli emphasized the new DTA’s strategic importance, noting that the agreement redefines Italy’s economic and financial framework with China. Cirielli highlighted that the DTA not only strengthens relations with the Chinese government but also supports Italian businesses, which face increasing competition as other European countries have already established double taxation agreements with China. This ratification, therefore, is part of a broader series of diplomatic and economic engagements, leading up to a forthcoming visit by the President of the Italian Republic to China, underscoring Italy’s commitment to fostering bilateral relations and supporting its businesses in China’s complex market landscape.
The newly signed DTA between Italy and China, introduces several modernized provisions aligned with international tax frameworks. Replacing the 1986 DTA, the agreement adopts measures from the OECD/G20 Base Erosion and Profit Shifting (BEPS) Project and the OECD Multilateral Instrument (MLI), targeting tax avoidance and improving dispute resolution.
The Principal Purpose Test (PPT) clause, inspired by BEPS, is one of the central updates in the new DTA, working to prevent treaty abuse. This clause allows tax benefits to be denied if one of the primary purposes of a transaction or arrangement was to gain a tax advantage, a move to counter tax evasion through treaty-shopping.
This article was first published by China Briefing , which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, and India . Readers may write to info@dezshira.com for more support. |
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Business
China’s New Home Prices Stabilize After 17-Month Decline Following Support Measures
China’s new home prices fell for the 17th month in October, declining 0.5% from September, but slowing, indicating potential market stabilization amid supportive measures. Second-hand home prices showed mixed trends.
Decline in China’s Home Prices Stabilizes
China’s new home prices continued to decline in October for the 17th consecutive month, although the drop showed signs of slowing. Recent support measures from Beijing appear to be inching the market toward stabilization, as evidenced by a lighter decline compared to earlier months.
Monthly and Yearly Comparisons
According to the latest data from the National Bureau of Statistics, new home prices across 70 mainland cities fell by 0.5% from September, marking the smallest decrease in seven months. Year-on-year, prices dropped by 6.2%, slightly worse than the September decline of 6.1%. In tier-1 cities like Beijing and Shanghai, prices decreased by 0.2%, a smaller fall than 0.5% in the previous month.
Second-Hand Home Market Trends
Second-hand home prices in tier-1 cities experienced a 0.4% increase in October, reversing a 13-month downward trend. Conversely, tier-2 cities observed a 0.4% drop in second-hand prices, while tier-3 cities faced a similar 0.5% decline. Overall, recent trends indicate a potential stabilization in China’s property market.
Source : China’s new home prices slow 17-month decline after support measures kick in