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在线翻译:
szdaily -> Business
Govt. mulls higher pay for executives of State firms
    2017-May-11  08:53    Shenzhen Daily

THE Central Government is considering increasing executive compensation at big banks and other State-owned enterprises (SOEs), according to a person with knowledge of the plan, as the government seeks to retain talent needed to overhaul the bloated State sector.

Premier Li Keqiang told a recent meeting of more than 100 top executives in Beijing that the government was rethinking a 2015 policy capping their pay at a fraction of their overseas peers, said the person, who asked not to be named. Li promised a system with more competitive rates, probably tied to performance, the person said, in an effort to hold onto their managers.

The discussions show the challenges facing the government as China pushes the almost US$20 trillion State sector to embrace structural reform while cracking down on the excesses.

While the cap saw the earnings of China Construction Bank Corp. chairman Wang Hongzhang halve to 600,000 yuan (US$87,000) in 2015, the salaries of some overseas executives have stayed high: JP Morgan Chase’s Jamie Dimon received US$28 million last year.

China is set to kick off another round of State enterprise reform, with as many as 10 companies preparing proposals to sell stakes in their units, people with knowledge of the plans have separately said.

International Monetary Fund First Deputy Managing Director David Lipton last year recommended China establish a special group to oversee “uneven” State enterprise reforms.

SOEs still account for about 30 percent of China’s industrial output and investment and remain the dominant borrowers in the country’s financial markets, Goldman Sachs Group economists including M. K. Tang in Hong Kong wrote in August.

Executives from companies including China Mobile, China Merchants Bank and Potevio Group attended the recent meeting with Li, according to Xinhua.(SD-Agencies)

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