State-owned enterprises are set to cut salaries of senior executives to sustain growth amid rising operating costs and an unfavourable economic environment.
The State-owned Assets Supervision and Administration Commission said in a statement on Thursday state firms were required to step up efforts to reduce costs and improve efficiency.
"In 2013, the Sasac will strictly regulate salaries of SOE leaders and senior management," said Wang Yong, the chairman of Sasac. "Salaries will be more closely linked to company performance."
via Business feed http://www.scmp.com/business/china-business/article/1125921/economic-downturn-forces-state-firms-cut-executive-wages
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