CHINA-INTERNAL: GOVERNMENT REFORM

At a meeting of the CCP’s Leading Group for Financial and Economic Affairs on August 18, Chinese President Xi Jinping announced plans to regulate the top salaries of executives in state-owned companies, as part of the nation’s anti-extravagance and anti-corruption campaigns. A statement on the central government website stated that “Unreasonably high income will be adjusted,” and "top managers can’t have excessive spending beyond what’s stipulated by government regulations or companies’ financial policies". It called on leaders of central-government-controlled enterprises to actively support the changes.The meeting also discussed plans to build a few influential media groups and bring in changes to the national examination and enrollment systems.







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