Homepage> Homepage Headline
Salary reform on SOE chiefs to shake up State sector
2015-January-4 Source: CRIenglish.com
Text Size: A A A | Print | Share by E-mail:

A clerk counts Chinese 100 yuan banknotes at a branch of China Construction Bank in Nantong, Jiangsu province, Dec 2, 2014. [Photo/Agencies]

The salary reform, which trims payment for executives from centrally administered State-owned enterprises in China, is now in effect starting from the New Year's day.

The reform is first being implemented on some 200 executives from 72 State companies.

The difference in executives' salary as a result of the reform will be mainly reflected on the performance of duties.

"Take the nature of companies for example, the index number of those companies in highly competitive industries should be higher than those monopolies and non-profit ones. And from the perspective of the size of the business, companies with bigger operational capacity will have higher index figures than those with smaller capacities. The purpose of the coefficient is to reflect the varied difficulty for executives running different companies, and the differences in their job performance," said Qiu Xiaoping, vice minister of Human Resources and Social Security.

For years, the yawning gap between what is paid to top executives and average workers at these state companies has led to grievances among the public.

The move to narrow the gap between top executives and average workers is part of a broader plan to reform the inefficient state sector.

Editor: 王凯
Related News
This site contains material from other media for content enrichment purpose only. The Southcn.com website do not endorse such content and do not bear the joint responsibility of their copyright infringement. The views expressed in written material posted to the bulletin boards of Southcn.com are those of the authors and/or publishers. The Southcn.com website does not endorse information products posted by organizations and individuals here. The originators of these information products are solely responsible for their content. For copyright infringement issues, you shall contact Southcn.com within thirty (30) days. Email: falv@southcn.com
Home | About Us | Contact Us | Southcn.com
www.newsgd.com registered number 020074 | ICP Certificate No.B2-20050252