China to Put Salaries at SOEs Under Scrutiny

The Ministry of Finance announced that it is conducting an audit to find out whether executives at central-government controlled financial institutions have been overcompensated.

The China Development Bank, Agricultural Development Bank of China, the Export-Import Bank of China, Industrial and Commercial Bank of China, China Construction Bank, Bank of Communications, Huarong Asset Management Corporation, China Huarong Asset Management Corporation, Great Wall Asset Management Corporation are among 23 companies to be audited by the ministry. The audit will be conducted from December 1 to December 10.