Professor Sun Zhongwei from South China Normal University has remarked:
"At its peak, around 2008–2009 (just before and after the global financial crisis), China’s manufacturing sector employed about 200 million people. By 2015–2016, that number had dropped to around 150 million. Now, we’re down to about 120 or even 100 million. So, over the past decade, about 70 to 80 million people have left manufacturing. Where did they go? Mainly into the service sector."
Presently there is quite a lot of unemployment, especially among the young people. For the services to expand further on the people need more money. Likely the industrial sector is strong enough to sustain further increases in wages.
