End excessive pay for SOE executives

China Forum | Tang Jun

Latest move is part of efforts to establish a modern corporate system and push forward reform of income distribution

China's leaders have decided to cut the hefty salaries and restrict the expense accounts and other perks of top executives at large State-owned enterprises. During a meeting on Friday, presided over by General Secretary Xi Jinping, the Political Bureau of the Central Committee of the Communist Party of China approved plans to reform the payment system that determines centrally administered SOE executives' salaries and the size of their expense accounts and other privileges.