12th May 2008Labour Contract Law closes 8,000 enterprisesSource: CSR Asia
According to a report in the New Express Daily (Xin kuai bao - пìˆó, in Chinese only), China's People's University Professor Huang Weiping told a seminar yesterday that there is a strong link between the closure of 8,000 enterprises in the Pearl River Delta and the implementation of the labour contract law on 1 January this year. Huang called for the law to be amended after data from the PRD Manufacturers' Association showed that 8,000 companies had either shut down or moved out of the area due to increased costs relating to the new law. Professor Tang Hong from the Macau University of Science and Technology called for well-known Chinese enterprises to shoulder more social responsibility (and pay more attention to business stakeholders). |
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