Labor Contract Law and Wages: Examining the Aging Population and Technology in China

This paper discusses how Labor Contract Law, the aging population and technology influence labor wages, worker conditions and expectations, and the economy in China. The Labor Contract Law of the People’s Republic Law of China focuses on protecting laborers’ rights, and a central purpose of this study is to demonstrate the positive impact of this law. Although this law made foreign and private companies lose profit, the law enhanced labor rights, labor wages, and labor relations. Most important, after the law was executed, workers’ quality of life improved considerably and China’s economy was enhanced. The impact of population aging and technological innovation on China in recent years has also begun to emerge. This paper focuses on how these two aspects influence workers\u27 wages and present both new challenges and opportunities—for workers, the economy, and society. A multi-method approach is utilized, including presentation of government data analysis, labor wage statistics, and an interview with one Chinese government official. This research also considers the future direction of the Chinese labor market and makes recommendations for other developing countries