(Yicai Global) March 26 -- Shanghai will increase its statutory minimum wage by 2.5 percent to CNY2,480 (USD370) in April, according to its municipal human resources and social security department.

Part-time workers, those working four hours a day or less, must also receive at least CNY22 (USD3.28), the agency said in a statement yesterday. The new rules will take effect from April 1 and do not include social insurance premiums or housing provident funds, which are paid separately by employers.

Per-capita disposable annual income in China's largest city was CNY64,183 (USD9,566) last year, ranking it first nationwide. That pans out to just under CNY5,349 a month, or 8.8 percent higher than in 2017. The national average climbed 8.7 percent to CNY28,228 over the same period, giving an actual increase of 6.5 percent after inflation.

Shanghai will also raise its minimum living standard for urban and rural residents next month to CNY1,160 from CNY1,070, an 8.4 percent rise. Families with per capita income below the threshold will be eligible for cash benefits from the government.

The city also lifted other social assistance standards, including subsidies for special relief recipients, support for the especially impoverished and special aid for low-income families.

Editor: James Boynton