CHINA-ECONOMY: SOEs

 The state-owned Economic Information Daily reported on November 24, 2014, that China will soon executives at its biggest State-owned Enterprises publicly reveal their salaries. Stating that "central SOEs' senior executives' 'invisible income' has been the most controversial grey area of SOE compensation and a focus of inquiries from society," the newspaper said the government "will set up a payment information disclosure system" and that details on compensation "must be disclosed according to the standard of publicly listed companies." It did not explain how the disclosure system would work.

The Economic Information Daily said that after the reform is implemented in January, the compensation level for executives appointed by the state is expected to fall to 7 to 8 times that of an average employee, compared with 12 times the current average. 
  






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