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Salaries of 48 CEOs of Publicly Traded SOEs Released

Xinhua recently published an article about the salaries that the CEOs of 48 publicly traded State Owned Enterprises (SOEs) received. The analysis pointed out that of the 48 CEOs of publicly traded SOEs, 18 of them saw their salaries drop while four companies saw salaries increase over the rate of 100 percent. The gap between the highest and lowest paid CEOs is six million yuan (US$930,000). The report indicated that the pay rate was directly tied to the financial performance of the company. It further stated that the change in the rate of pay started at the beginning of 2015 following the launch of a salary reform plan. The result appears to be a healthy trend. The next phase is expected to be among the second and third tier of the SOE companies and local SOEs.

Source: Xinhua, April 11, 2016