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This Leader Got Balls To Do The Right Thing

Froggy

Alfrescian (InfP) + Mod
Moderator
Generous Asset
Pay cuts first step for Xi
SCMP Editorial
PUBLISHED : Tuesday, 26 August, 2014, 4:35am




Xi Jinping's campaign against corruption and extravagance has so far targeted thousands of individuals, including more than 30 very senior officials. In his own reported words this has resulted in confrontation and stalemate between the "armies" of corruption and anti-corruption. Undeterred, he has now made a bold move towards opening up a second front in clearing the way for deepening much-needed reforms - the state-owned enterprises that dominate the mainland economy.

Under a plan approved by Xi, the officials in charge of these monopolies and near-monopolies face pay cuts of up to 50 per cent and redefined roles. Xi told a meeting last week pay reforms needed speeding up and also approved a seven-year overhaul of their management structures. Executives in finance and banking may face the biggest salary cuts. Former premier Wen Jiabao was unable to carry out a pledge to introduce similar reform, which attests to the formidable opposition Xi can expect.

There has always been ambiguity about the role of the top SOE executives because they are both government officials and managers. They enjoy ministerial or vice-ministerial ranking that comes with perks and privileges on top of internationally competitive salaries, and earn many times more than fellow officials including top civil servants. Moreover they are essentially unaccountable. Since many SOEs have cosy monopolies, public discontent is understandable.

Under the new model, government-appointed officials will probably join the board of directors to oversee policy direction, while managers appointed from outside on competitive packages will run day-to-day operations. If they do not perform they can be sacked, unlike the present situation. Once the party's organisation department appoints top executives, boards of directors cannot sack them.


The nation's new leaders want to use salary restructuring as a starting point for addressing the huge challenge of trying to reform state-owned enterprises. It is a move in the right direction of separating the Communist Party from business. But more fundamental issues have still to be addressed.

An even bigger challenge will be to break up the monopolies of the state-owned enterprises to produce greater competition and economic efficiency. Cutting salaries appears to be drastic, but it is only a first step.
 

Jlokta

Alfrescian (InfP)
Generous Asset
Our great leader is a Hakka.

Expect another round of pay rise for the ministars.
 

Abramovich

Alfrescian
Loyal

Look who we have here. A despot leader that deprives his people of their rights, trying hard to stamp out corruption but is corrupted himself. I am too. :eek:
 
Last edited:

ILovePAP

Alfrescian (Inf)
Asset
We must increase our Ministers' salaries so that they do not be tempted by corruption. Pay them more I suggest!
 

kaipoh

Alfrescian
Loyal
What so great about him, he learn the trick from LKY, LHL- jail, bankrupt, garnished their bank account....

Pay cuts first step for Xi
SCMP Editorial
PUBLISHED : Tuesday, 26 August, 2014, 4:35am




Xi Jinping's campaign against corruption and extravagance has so far targeted thousands of individuals, including more than 30 very senior officials. In his own reported words this has resulted in confrontation and stalemate between the "armies" of corruption and anti-corruption. Undeterred, he has now made a bold move towards opening up a second front in clearing the way for deepening much-needed reforms - the state-owned enterprises that dominate the mainland economy.

Under a plan approved by Xi, the officials in charge of these monopolies and near-monopolies face pay cuts of up to 50 per cent and redefined roles. Xi told a meeting last week pay reforms needed speeding up and also approved a seven-year overhaul of their management structures. Executives in finance and banking may face the biggest salary cuts. Former premier Wen Jiabao was unable to carry out a pledge to introduce similar reform, which attests to the formidable opposition Xi can expect.

There has always been ambiguity about the role of the top SOE executives because they are both government officials and managers. They enjoy ministerial or vice-ministerial ranking that comes with perks and privileges on top of internationally competitive salaries, and earn many times more than fellow officials including top civil servants. Moreover they are essentially unaccountable. Since many SOEs have cosy monopolies, public discontent is understandable.

Under the new model, government-appointed officials will probably join the board of directors to oversee policy direction, while managers appointed from outside on competitive packages will run day-to-day operations. If they do not perform they can be sacked, unlike the present situation. Once the party's organisation department appoints top executives, boards of directors cannot sack them.


The nation's new leaders want to use salary restructuring as a starting point for addressing the huge challenge of trying to reform state-owned enterprises. It is a move in the right direction of separating the Communist Party from business. But more fundamental issues have still to be addressed.

An even bigger challenge will be to break up the monopolies of the state-owned enterprises to produce greater competition and economic efficiency. Cutting salaries appears to be drastic, but it is only a first step.
 

independentdirect

Alfrescian
Loyal
Xi Jinping's campaign against corruption and extravagance has so far targeted thousands of individuals, including more than 30 very senior officials. In his own reported words this has resulted in confrontation and stalemate between the "armies" of corruption and anti-corruption. Undeterred, he has now made a bold move towards opening up a second front in clearing the way for deepening much-needed reforms - the state-owned enterprises that dominate the mainland economy.

.



Actually one good thing about China is that their continuity of government allows for long term decisions to be made. This is unlike the west where short term politicking is all the ruling party can focus on because of the election cycle. You can't make a 7 year plan when your term of office expires next year.

I'm not praising our govt or that of China, but that is where we and the Chinese have a strong advantage. Our govts, assuming they are charting the proper course, can make long term decisions in the public interest without succumbing to popularism.
 

Leongsam

High Order Twit / Low SES subject
Admin
Asset
I'm not praising our govt or that of China, but that is where we and the Chinese have a strong advantage. Our govts, assuming they are charting the proper course, can make long term decisions in the public interest without succumbing to popularism.

It also enables the government to make succession plans for children, grandchildren and great grandchildren.
 

independentdirect

Alfrescian
Loyal
Typical la everything Chinese govt does is negative everything shit skin govt does is good.


You must be kidding me. When China overtook Japan in 2010 in terms of GDP, the entire world kept quiet. It was as if everyone had miscalculated and were embarrassed to admit that they had been dead wrong about China for the last 30 years.

The shrewed ones laughed their way to the bank.
 

sochi2014

Alfrescian
Loyal
There is hope for China!!

Hail to our Ancestor's Motherland!

[video=youtube;35zfVKqjS0o]https://www.youtube.com/watch?v=35zfVKqjS0o[/video]
 
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