SOE managers' incomes increase on reform

Average salaries for the managers of State-owned enterprises increased in more than a year since reform of the salary system, although their numbers have fallen.

Announced in November 2014, the plan, which took effect on Jan 1 last year, covering 72 key SOEs, would result in an overall decline in the number of bosses at State firms, said Qiu Xiaoping, vice-minister of human resources and social security shortly after the plan's implementation.

However, according to the annual fiscal reports of 48 listed SOEs which are included in the plan, their average annual income in 2015 rose to 1.07 million yuan ($165,200) from the 970,000 yuan a year ago.