Top Chinese executives’ average salaries dropped 3.32% in 2023 due to a slow economy and volatile stock market, reports Caixin. The average salaries for general managers, board secretaries and chief financial officers dropped 3.46%, 1.12% and 3.82%, respectively, according to a report by Shanghai Rongzheng Enterprise Consulting Service (Group) based on a survey of 5,326 companies traded in Shanghai and Shenzhen.
The average maximum yearly salary paid by listed companies declined by 3.27% in 2023, the first annual drop, according to the report.
Biopharmaceutical firm WuXi AppTec topped the companies in executives’ payments, followed by medical device supplier Mindray Medical International Ltd. and new energy giant Tongwei Group.