A report recommending that salaries of senior executives in state-owned enterprises (SOEs) be increased to match those paid in private and foreign-funded companies has been handed to the State Council, according to a website run by Nanfang Daily. The increases should help SOEs retain talented staff.
The report was drawn up by a taskforce of officials and experts from 10 ministries, headed by Chen Qingtai, the chief of the State Council\’s Development Research Centre. In a year-long study of executive pay, the taskforce found that 62 per cent of top officials in SOEs earned less than Yn20,000 a year, while in the 40 largest companies directly under central government control, most top executives earned about Yn60,000 a year.