Employees from overseas ask to be paid in RMB
文章来源: 文章作者: 发布时间:2007-01-19 02:05 字体: [ ]  进入论坛

The value of the Renminbi (RMB) yuan against the U.S. dollar hit a new high Jan.16 with a central parity1 rate of 7.7895 yuan to one dollar, according to the Chinese Foreign Exchange Trade System.
Chinanews, Shanghai, Jan. 18 – Renminbi appreciation2 not only brings a far-reaching impact on Chinese economy, it also has changed some people's daily life.


For people who receive their salaries in foreign currencies, the fluctuating exchange rate of Renminbi means more than a mere3 change of figures. It would also mean that their salaries have become more or less diminished in a month.


Now more and more employees from overseas working in China require their bosses to pay their salaries in Renminbi, Shanghai Securities Journal reported.


It is said that most of these staff members are managers in their companies whose monthly salaries are usually worth around dozens of thousands of yuan. When the value of Renminbi keeps rising, it would mean that their salaries, which are usually paid in Hong Kong dollars or US dollars, will continue to shrink.


“My boss doesn't give me a salary raise, but the Renminbi appreciation does increase my salary,” said Cheng Shaoyu who works in the mainland from Hong Kong.


Cheng has been working in an auto4 model company for more than five years. He now earns 20,000 yuan every month. Compapred with 2005 when Renminbi did not appreciate then, he now earns at least 1,000 more after converting his Renminbi payment into Hong Kong dollars based on the current exchange rate.


Many Hong Kong people working in the Pearl River Delta5 region are paid in Hong Kong dollars. Now they feel that they will suffer from some financial losses if paid in this way. For foreigners who receive their salaries in US dollars and Japanese yen6, they also ask their bosses to pay their salaries in Renminbi.


The general managers of some foreign companies say that in the short run, they will still pay their staff in the type of currency specified7 in their contacts. They will consider staff members' requirement for changing the way of their payment. However, a more reliable way for payment will usually be the one that is specified in their contracts.



1 parity 34mzS     
  • The two currencies have now reached parity.这两种货币现已达到同等价值。
  • Women have yet to achieve wage or occupational parity in many fields.女性在很多领域还没能争取到薪金、职位方面的平等。
2 appreciation Pv9zs     
  • I would like to express my appreciation and thanks to you all.我想对你们所有人表达我的感激和谢意。
  • I'll be sending them a donation in appreciation of their help.我将送给他们一笔捐款以感谢他们的帮助。
3 mere rC1xE     
  • That is a mere repetition of what you said before.那不过是重复了你以前讲的话。
  • It's a mere waste of time waiting any longer.再等下去纯粹是浪费时间。
4 auto ZOnyW     
  • Don't park your auto here.别把你的汽车停在这儿。
  • The auto industry has brought many people to Detroit.汽车工业把许多人吸引到了底特律。
5 delta gxvxZ     
  • He has been to the delta of the Nile.他曾去过尼罗河三角洲。
  • The Nile divides at its mouth and forms a delta.尼罗河在河口分岔,形成了一个三角洲。
6 yen JfSwN     
n. 日元;热望
  • He wanted to convert his dollars into Japanese yen.他想将美元换成日币。
  • He has a yen to be alone in a boat.他渴望独自呆在一条船上。
7 specified ZhezwZ     
  • The architect specified oak for the wood trim. 那位建筑师指定用橡木做木饰条。
  • It is generated by some specified means. 这是由某些未加说明的方法产生的。