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HR Due Diligence by ChinSeng Koh, ChyeKok Ho

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Conclusion

In the past thirty years, China has transformed itself from an agricultural society of farm workers into the world’s largest factory and economic powerhouse. The transformation began with the pioneer economic reformist Deng Xiaoping who was never worried about the colour of the cat as long as it catches mice and was always prepared to cross the river by using its stepping stones. The economic reform and development have lifted more than 400 million Chinese people out of poverty. According to the National Bureau of Statistics, the index of annual per capita net income for rural China is 798 in 2008 and stands at 816 for the urbanised areas from a base index of 100 in 1978. Notwithstanding this, income disparity of rural residents ...

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