China aims to cut executive salaries
Print Edition
Unreasonably high salaries for executives of major state-owned enterprises must be adjusted, President Xi Jinping said yesterday.
Xi was heading a meeting to review a plan for the reform of payments for executives of major SOEs directly controlled by the central government.
It was decided that the plan had to be further amended.
Xi said SOEs must make sure their salary level is proper, their salary structure reasonable, their salary management strict and efficiently supervised. “Unreasonably high and excessive incomes must be regulated,” he said.
He urged SOE executives to realize their responsibilities and accept and support the reform.
Linking the reform with the Party’s campaign against extravagance and other undesirable work styles, Xi stressed that, apart from necessary certified expenses, SOE executives would enjoy no other perks in the name of “entitled consumption.”
Also at the Leading Group for Overall Reform meeting, Xi said China would build new media groups that are strong, influential and credible.
Traditional media and new media must complement each other and their integration should cover content, channels, platforms, operations and management, Xi said.
Integration should be supported by technology and follow the rules of news communication and laws governing the development of new media.
Yesterday’s meeting was attended by deputy group leaders Li Keqiang, Liu Yunshan and Zhang Gaoli, all of whom are members of the Standing Committee of the Political Bureau of the Communist Party of China Central Committee.
The meeting in Beijing also reviewed reform of the national examination and enrollment system, aiming to enhance fairness and supervision, and connect all levels and kinds of education.
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