Sino-File

Counting the pennies

“If you want to earn big sums, you should not be a state-owned enterprise executive”

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Fu Chengyu

Sinopec boss Fu Chengyu comments on changes to executive pay at SOEs. Local media reports that heads of state firms face a salary cap of Rmb900,000, with some facing 60% pay cuts. The move is part of Xi Jinping’s broader clean-up campaign in the public sector.


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