Tianjin releases 2013 local average wage standard for employees: monthly average wage is RMB 4,260 while annually average wage is RMB 51,112. Work-related injury insurance, salaries and benefits, as well as other treatment, will be calculated based on RMB 4,260.
In addition, Tianjin also releases the following average wage standard, which would be used as calculation basis under specific circumstances:
- Average wage for enterprise employee in 2013: monthly average wage is RMB 4,070 and annually average wage is RMB 48,841, used for the calculation of the lump-sum settlement allowance in the case of policy-mandated bankruptcy.
- Average wage for on-post staff in 2013: monthly average wage is RMB 5,714 and annually average wage is RMB 68,568, used for the calculation of pension insurance treatment.
The above average salary standard is applied as of January 1, 2014.