| Since reform and opening-up, Chinese manufacturing industry have developed rapidly, with some of them reaching advanced levels in the world, but the prominent problem at present is the slow growth of the income of workers. There is still a big gap between China and other countries in terms of wage income. Long-term low-wage level is neither conducive to the improvement of welfare of workers nor conducive to optimize and upgrade the industrial structure. As the issue of income distribution has been widely concerned, It is great significance both theoretically and practically to establish the scientific and rational wage growth mechanism.According to industry Category, this paper categorize the manufacturing industries as labor-intensive industries, technology-intensive industries and capital-intensive industries. VECM and Panel Data model are used to study wage growth mechanism of China's manufacturing industry. The results indicate as follows. Firstly, Cointegration analysis show that the increase of labour productivity have little contribution to wage growth, but wage is easily influenced by exchange rate and international trade. Secondly, Panel Data model indicate the export and import have different effects on different types of industries in tems of impact strength and direction. Specifically speaking, labor-intensive industry is most susceptible to rate fluctuations, and exchange rate appreciation, which can reduce export, is bad for wage growth in labor-intensive sectors, on the other hand, it is beneficial to improve the wages in capital-intensive sectors and technology-intensive sectors by manufactured goods-imported and Raw material-imported.Based on the above conclusions, some suggestions are put forward to improve the welfare of manufacturing workers. We only by deepening reform to formation a New Type Regulatory Mechanism which is based on Market Regulation with State Regulation to ensure the welfare and labour productivity increase simultaneously. |
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