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Xinhua: Upper Management’s Largest Wage 4553 Times Greater than that of Lowest Worker

Xinhua recently reported that, based on a report released by the Ministry of Human Resources and Social Security, upper management income in some industries has grown very rapidly. According to the report, the highest wage received by upper management is 4533 times more than the wage of the lowest grade worker. Based on the national labor union’s research, 23.4 percent of workers have not received a pay raise in the past five years. The biggest gaps in wages exist in the large scale state-owned companies, especially those with monopoly powers. Experts suggested that the government needs to regulate itself better and to truly consider the interests of the general public. They also called for closing the loopholes in the personal income tax system. 
Source: Xinhua, October 20, 2012