AI Data Insight
China's total wages in Q4 2025 reached 20,718.19 billion RMB, a marginal increase of only 0.87% compared to the same period last year, marking the weakest performance in recent years. This data is not only below historical averages but also reflects companies' conservative willingness to raise wages amid the real estate downturn and external pressures. The future recovery of domestic demand will highly depend on whether policies can break the negative feedback loop of sluggish wages and weak consumption.