In face of these difficulties, shareholders, business executives and common workers should unite to move forward. If enterprises are forced to raise the minimum wage, they will have to lower operational costs through slashing jobs. This would affect some people's livelihood more severely as well as causing social and economic instability.

Fu Keyou (Chengdu Business Daily): The minimum wage is nothing but a means of the government to adjust wealth distribution between enterprises and their employees. If the mandatory minimum wage is strictly implemented, some low-income workers will benefit. This is why the government was determined to set up this standard several years ago.

In a market economy, supply and demand determine the value of the labor force. When supply and demand reach a balance, the average wage offered at that point is the so-called minimum wage. If the mandatory minimum wage is higher than the market-based one, the balance between labor supply and demand will be broken and thus enterprises have to cut jobs. As a result, some low-income workers will face being laid off and this is bad for the overall economy.

Undoubtedly, the stability of the employment situation tops the government's agenda when the economy is slowing down. It not only constitutes the basis for continual economic development but also guarantees people's income and welfare. Without this, it will be impossible to boost domestic demand.

Regarding this, to halt the increase in the mandatory minimum wage is a considerate decision to encourage enterprises to maintain their current staff size.

Ren Shougen (Oriental Morning Post): Generally speaking, economic growth, stable consumer prices and sufficient employment are regarded as the three major targets of a country's macro-control. The existence of a large number of unemployed people poses a big threat to the employed.

As far as labor-intensive small and medium-sized enterprises are concerned, they are now faced with a series of problems, including growing labor and material costs, as well as shrinking markets. Thus, to freeze the minimum wage is understandable.

In August, the Ministry of Human Resources and Social Security demanded regions that had not raised the mandatory minimum wage to do so before the end of this year, but this plan was interrupted by the current global financial turmoil.

China's low-wage policy means to ensure employment. Labor-intensive small and medium-sized enterprises are the biggest absorbers of common workers and their failure would directly affect employment.

If they are forced to raise wages regardless of the economic situation, rising labor costs will force companies to close down. This will leave a significant number of workers with no wages at all.

Wrong recipe for crisis

Guo Songmin (Information Times): The policy to freeze the minimum wage is well-intended, but it risks deteriorating the situation instead of relieving the crisis.

Government decision-makers take it for granted that as long as businesses' operational costs are reduced, their performance will improve and thus these companies will employ more workers.

However, they neglect the fact that the reason for the current difficult situation is not that operational costs are too high, but that the market is shrinking. As long as the recessive trend remains, no matter how much workers' wages are squeezed, businesses won't recover.

Today, China is faced with double pressures: shrinking overseas markets and sluggish domestic demand. The dull picture in overseas markets results from the ongoing global financial turmoil. Given the scale of the financial crisis, it's almost impossible for a few countries to reverse the trend.

Therefore, the Chinese Government can only turn to the vast domestic market to drive the economy forward. Once the consumption potential at home is tapped, businesses will find it easier to survive the crisis.