China to Double Employees' Wages in 5 Yrs
   2011-04-19 13:29:34      Web Editor: Guo

China has vowed to raise enterprise employees' wages by 15 percent annually, in order to reach the goal of doubling their wages within the 12th Five-Year-Plan period, the Beijing Times reported.

For the benefit of more employees, the government prescribed that growth of wages must go in line with the increasing rate of a company's revenues, stated Yang Zhiming, vice minister of Human Resources and Social Security in a working conference.

On the other hand, more efforts will be made in controlling exorbitant salaries of CEOs and general managers in state-owned enterprises (SOE).

Ninety percent of these CEOs and general managers received an average annual salary of more than one million yuan in 2009, Yang pointed out.

Meanwhile, in the hopes of attracting more workers, 13 provinces and municipalities have raised the minimum wage by 22.8 percent on average this year.
The minimum wage in east China's Zhejiang Province was raised to 1,310 yuan (200 U.S. dollars) per month, the highest hike so far.


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