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Pay cuts approved for SOEs

By Wei Tian | China Daily | Updated: 2014-08-30 08:04

Excessive salaries will be reduced to reasonable levels, leadership says

The top leadership of the Communist Party of China decided on Friday to cut salaries for executives at State-owned enterprises.

During a meeting presided over by President Xi Jinping, the Political Bureau of the CPC Central Committee approved plans to reform the system that determines centrally administered SOE executives' salaries, the size of their expense accounts and other privileges.

Pay cuts approved for SOEs

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