New Page Turning With Pain
On a chilling morning in Dongguan, Guangdong Province, a middle-aged man turned a rusted iron gate closed. “Dad, will we come back again?” his little girl asked. “No, we won’t.” the man answered sadly. He was the boss of this small shoe factory. Having weathered many ups and downs, he had no way to continue operating but to close it down. Let’s wish him good luck.
But this is just one of the 10,000 businesses that are on the brink of collapse, in Guangdong Province solely.
Ever since the New Labor Contract Law came into effect on January 1, 2008, the costs of companies in various industries are all soaring up, especially manufacturing industry. Intensified by other factors such as higher minimum salary, enhanced state requirements for environmental protection, rise in raw material prices, and appreciation of Yuan, cost of middle to small-scale plants is expected to rise up by 40% to 50%, a staggering figure which a great number of companies find too heavy a burden......
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