25 February 2020

Academic urges civil servant pay for SOE bosses, paper says

Senior executives in state-owned enterprises (SOEs) that operate for public welfare or enjoy monopoly status should be paid at the same rate as civil servants of similar rank, Economic Information Daily reported Thursday, citing Gao Minghuam, director of the Research Center for Corporate Governance and Enterprise Development in Beijing Normal University. These types of SOEs are not for profit, so their executives should not enjoy benefits, such as stock options and cash incentives, outside of their salaries, Gao was quoted as saying. Also, the government should fully open certain key sectors such as finance, telecoms, railway construction and energy to allow private firms to compete with SOEs, the report said.

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