Caixin
Jan 18, 2019 07:44 PM
BUSINESS & TECH

State-Owned Firms Get Greater Freedom to Set Wages

A factory floor of Harbin Electric Co. Ltd. is seen in Harbin, Heilongjiang province, on April 20. Photo: VCG
A factory floor of Harbin Electric Co. Ltd. is seen in Harbin, Heilongjiang province, on April 20. Photo: VCG

China’s state-owned enterprises (SOEs) have been given more freedom to set their employees’ wages, as Beijing’s seeks to revitalize the country’s stodgy state assets.

Most SOEs will no longer have to present their annual salary budgets to authorities for approval, according to a document (link in Chinese) published by the State-owned Assets Supervision and Administration Commission (SASAC) on Wednesday.

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