Posted on 08/29/2014 6:23:51 AM PDT by Oldeconomybuyer
BEIJING -- The top leadership of the Communist Party of China (CPC) decided on Friday to cut salaries for executives of state-own enterprises (SOEs).
During a meeting presided over by Chinese President and CPC General Secretary Xi Jinping, the Political Bureau of the CPC Central Committee approved plans to reform the system that determines centrally administered SOE executives' salaries and the size of their expense accounts and other privileges.
In a statement released after the meeting, the Political Bureau said excessive salaries will be cut to reasonable levels.
It urged SOEs to improve their corporate ethics, saying that income gaps between executives and other employees, and salaries among different industries should be maintained at an appropriate level.
The plans call for ceilings to be set on SOE executives' expense accounts and for prohibitions to be placed on their official vehicles, offices, training, business receptions, domestic and overseas business trips and communications.
They strictly prohibit any spending of public funds for personal purposes, vowing to stop misuse of such funds for club memberships, healthcare, entertainment and anything else irrelevant to executives' duties and SOEs' operations.
The Political Bureau urged local-run SOEs to follow suit.
My understanding is these are government enterprises. They work for the government, let the government cut the bureaucrats’ pay. I’d personally like to see that in America now.
Destroying excellence, initiative, and the hard working ethic all at the same time. Why excel? Why succeed? Why be competitive when everyone is all the same? The new movie is a great example of a communist Agenda 21 existence and how boring everything would be. They take meds to kill emotions and are forbidden to love or show intimacy. Precision of language anyone?
^ movie, The Giver
They are communist hybrids. Many are listed companies with private shareholders and sell products to the domestic and export markets. All of the executives are party members, are deeply involved in corruption, and are currently buying homes in the US and Europe as an escape plan.
..........Wow!.........that oughta make all these executives feel real good and enthusiastic when their feet hit the floor in the morning!
The Chinese communist party is really concerned about disparities in income. Know anyone else that harps on income disparities?
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