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Chinanews, Beijing, May 10 – A recent survey shows that the salaries for senior managers of Chinese listed companies can differ greatly: the difference between the highest and the lowest can be as large as 500-folds. According to an authoritative1 report, last year the annual salary for the president of the Shenzhen Development Bank was 9.95 million yuan, the most among all, while the yearly salary for the president of the Baiyin Copper2 Commercial Building Group was only 19,000 yuan, the Beijing Morning Post reported.
The Shanghai Reality Investment Consulting Company recently publicized a list of salaries for senior managers of China’s listed companies in 2006. Most notably3, the annual salaries for the senior managers placed in the last ten positions on the list were all below 30,000 yuan. In general, their annual salary level was only 29,600 yuan. In other words, these senior managers made only 2,466 yuan a month. Most “poor” senior managers are based in the west region, the less developed area in China. Their meagre salary is largely connected with the companies poor business performance, said Ma Fei, business partner of the Shanghai Reality Investment Consulting Company. Despite this, for the Baiyin Copper Commercial Building Group, which is now labelled with the ‘special treatment’ mark since it has reported a profit loss for two years consecutively4, as well as the ten other companies, the report notes that it reserves the right to suspect these companies’ credibility and their incomplete or untruthful disclosure of information.
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