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Strategies & Market Trends : China Warehouse- More Than Crockery -- Ignore unavailable to you. Want to Upgrade?

To: RealMuLan who wrote (4526)	3/8/2005 11:39:09 PM
From: RealMuLan	Read Replies (1) \| Respond to of 6370

China to cap pay of bosses 09.03.05 BEIJING - China is trying to get state-owned enterprises to act more like private firms, but is considering a salary ceiling for executives. The Government is concerned that incomes of executives in some companies have reached up to 30 times that of their lower-ranking colleagues. "The state-owned Assets Supervision and Administration Commission is working out a plan to limit the maximum annual salary of the state-owned enterprise top management," former Shanghai mayor Xu Kuangdi said at a panel discussion during China's annual session of Parliament. "The initial standard is likely to be set at no more than 14 times the average salary of ordinary employees," he said. Average per capita urban incomes are about US$1100 a year ($1490). China's state-owned enterprises make up half of the country's total industrial fixed assets and many are kept afloat by loans from state banks, leading to criticism its CEOs are incompetent and overpaid. In his annual work report to Parliament, Premier Wen Jiabao pledged to continue reform of state-owned enterprises as the Government continues market reforms begun more than 20 years ago. nzherald.co.nz