PBoC proposes technological solution to address labour-driven inflation
The People's Bank of China's (PBoC) Monetary Policy Report for the second quarter, published on Tuesday, said investment in technology and human capital would help ease China's rising labour costs.
The PBoC said labour costs are a major component in production and service-provision costs, and product prices will rise when labour costs grow faster than labor productivity, sparking inflation. It said the boom in China's labour-intensive export sectors since 2005 had rapidly hiked demand for
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