Kun-Chin Lin
- Published in print:
- 2011
- Published Online:
- August 2016
- ISBN:
- 9780801450242
- eISBN:
- 9780801462931
- Item type:
- chapter
- Publisher:
- Cornell University Press
- DOI:
- 10.7591/cornell/9780801450242.003.0005
- Subject:
- Political Science, Asian Politics
This chapter focuses on the Chinese oil and natural gas industry, highlighting the growing variation in wages within the industry. This is a nationally important industry whose employees have ...
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This chapter focuses on the Chinese oil and natural gas industry, highlighting the growing variation in wages within the industry. This is a nationally important industry whose employees have hitherto been protected from market fluctuations and have traditionally enjoyed better than average wages and benefits. However, a state-sponsored restructuring divided the industry into a core of highly profitable companies and a group of noncore service companies. The noncore companies work under semi-feudal arrangements with the core companies, which have resulted in a duality of increased wages and job security at the core firms versus a high degree of employment uncertainty in the noncore firms. State-owned capital is the original driving force behind this transformation, although it has since been fueled by international capital, which has invested in the core, publicly listed firms.Less
This chapter focuses on the Chinese oil and natural gas industry, highlighting the growing variation in wages within the industry. This is a nationally important industry whose employees have hitherto been protected from market fluctuations and have traditionally enjoyed better than average wages and benefits. However, a state-sponsored restructuring divided the industry into a core of highly profitable companies and a group of noncore service companies. The noncore companies work under semi-feudal arrangements with the core companies, which have resulted in a duality of increased wages and job security at the core firms versus a high degree of employment uncertainty in the noncore firms. State-owned capital is the original driving force behind this transformation, although it has since been fueled by international capital, which has invested in the core, publicly listed firms.
