President Xi Jinping has pledged to limit executive pay at China’s powerful state-owned companies, the latest point of emphasis in a sustained austerity campaign.
“State-owned companies must realize more equitable salary levels,” Xi said, according to state news agency Xinhua. “Unusually high executive salaries must be regulated.”
The state media report did not provide any specifics on how pay should be limited at the state-owned firms, where official executive salaries often lag international rivals.
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Sophia Yan, CNN Money via CHINA US Focus http://ift.tt/1n6jRq9
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