On August 18, the leader of the Central Leading Group for Comprehensive Deepening Reform * * * * * * * presided over the fourth meeting of the Central Leading Group for Comprehensive Deepening Reform.
The meeting reviewed the "Reform Plan for the Salary System of the Principal Responsible Persons of Central Management Enterprises" and so on. , and suggested that it be further revised and improved according to the discussion at the meeting, and then submitted for approval for implementation according to the procedures.
* * * * pointed out in his speech that since the reform and opening up, the reform of the compensation system for the heads of central enterprises has achieved positive results and played an important role in promoting the reform and development of enterprises. At the same time, there are also some problems such as unreasonable salary structure and imperfect salary supervision system. It is necessary to gradually standardize the income distribution order of state-owned enterprises, realize moderate salary level, reasonable structure, standardized management and effective supervision, and adjust unreasonable excessive and excessive income.
Recently, "China Economic Weekly", China Economic Research Institute and Wonder Information jointly launched the salary ranking of the chairman of listed companies in central enterprises. Listed companies of central enterprises include listed companies controlled and shared by central enterprises, and the data comes from the annual reports of relevant companies.
64% of the chairman announced the annual salary, with an average annual salary of more than 800,000 yuan.
Statistics show that there are 259 directors among the listed companies of central enterprises that publish annual reports. Among them, 167 people announced their annual salary, accounting for 64.48%, and the annual salary of 84 chairmen showed zero.
Among the 83 directors who receive annual salary from listed companies, the highest is Kang Dian, the chairman of Xinhua Life Insurance (5,980,900 yuan), and the lowest is Cheng, the former chairman of Integration (8,300 yuan).
There are 92 directors of listed companies in central enterprises who have not announced their annual salary. For example, Fu Chengyu, chairman of China Petrochemical, has a net profit of 6765438+79 million yuan; Fu Yuning, Chairman of China Merchants Bank, has a net profit of 5 1.743 billion yuan.
Among the 83 directors who receive annual salary from listed companies, the annual salary totals 70,244,400 yuan, with an average annual salary of 846,300 yuan. Among them, there are 19 people with an annual salary of more than one million, accounting for 23%; There are 25 directors whose annual salary exceeds the average level, accounting for 30. 12%, and most of them do not reach the average level.
The chairman of the five major banks is paid more than one million yuan.
According to the ranking list of chairman's salary of listed companies in central enterprises, Kang Dian, chairman of Xinhua Life Insurance, ranked first with an annual salary of 5,980,900 yuan.
Not only in the insurance industry, but also in the banking, securities and real estate industries. The list shows that among the top 10 chairmen, 8 are related to these four industries.
The annual salary of the chairmen of the five state-owned commercial banks of industry, agriculture, China, construction and communications exceeds one million. Among them, Jiang Jianqing, chairman of China Industrial and Commercial Bank, is 1.9956 million yuan; Niu Mingxi, Chairman of Bank of Communications, is RMB 654.38+RMB 7922; Tian Guoli, Chairman of Bank of China, RMB 654.38+RMB 3582; Jiang, Chairman of Agricultural Bank, 65,438+065,438+033, 600 yuan; Wang Hongzhang, Chairman of China Construction Bank, is RMB 65,438+065,438+029,000.
The annual report of listed companies in central enterprises shows that some enterprises are losing money, but executives are holding high salaries.
The annual report shows that China Merchants Steamship lost 265.438+0.84 billion yuan last year, while its vice chairman Huang's annual salary was 65.438+0.24 million yuan (its chairman's annual salary was zero); The loss of alcoholic liquor is 36.68 million yuan, and the annual salary of Chairman Zhao is 9.65438+0.24 million yuan.
Emperor Wen of Sui, director of the Financial Information Center of Renmin University of China, told China Economic Weekly that the system design of many listed companies is flawed: the basic salary of executives has nothing to do with performance, so there is a phenomenon that executives have high personal income, but enterprises have been operating at a loss. To some extent, this means the failure of corporate governance structure.
An insider told China Economic Weekly: The separation of executive compensation from corporate performance is tantamount to separating the value orientation and interest pursuit of executives from investors, which is extremely unfair to investors.
In addition to the high executive pay of loss-making enterprises, the reporter noted that the executive pay gap of listed companies with similar performance is also relatively large. For example, the net profit of Great Wall Development is 230 million yuan, and the annual salary of Chairman Tan is 3,656,300 yuan; Baoxin Software's net profit is 290 million yuan, and Chairman Wang Li's annual salary is 939,000 yuan. The performance of the two companies is similar, but the annual salary difference between the two chairmen is more than 2.7 million yuan.
Emperor Wen of Sui believes that whether the overall salary level of senior executives of listed companies in central enterprises is reasonable depends on whether there are huge differences in basic salaries and whether there are performance incentives. Drought and flood guarantee the harvest? . ? The performance of listed companies in central enterprises is often related to a series of factors such as national policies, economic cycle, industry prosperity and monopoly position. And the performance of executives should be compared with that of the same industry; In addition, absolute performance is related to the asset size of the enterprise. With large assets, profits are naturally higher, but the return on net assets is not necessarily high. ? Yang Jian said,? Only when the base ratio, year-on-year ratio and chain ratio of financial indicators of listed companies in central enterprises have increased substantially, and their benefits are higher than the average benchmark of the same industry, can senior executives be eligible for performance pay, otherwise they will not take it! ?
36% of the chairman did not announce the salary.
Statistics show that among the listed companies of central enterprises that publish annual reports, 92 directors have not announced the annual salary received from listed companies, accounting for 36%. This is obviously not in line with the provisions of the CSRC that the executive compensation of listed companies must be clearly marked.
Xu, director of the Competitiveness Research Department of the Research Center of the State Council State-owned Assets Supervision and Administration Commission, told China Economic Weekly that some executives of listed companies in central enterprises did not announce their salaries because they did not get their salaries in listed companies, and their salaries should be implemented in accordance with the performance appraisal method signed with, and paid from group companies after the assessment. ? Judging whether an executive gets his salary from a listed company depends on whether he is the head of a central enterprise appointed or dismissed by SASAC. ? As long as SASAC manages people, it will manage money. ? Xu said.
The director of the president's office of a central enterprise told China Economic Weekly. Basically, every March and April, the Enterprise Distribution Bureau of the State-owned Assets Supervision and Administration Commission will go to various central enterprises to organize assessments. Score according to performance and key work completion. According to the score, calculate it as much as possible, and then report it to SASAC for approval and issuance. ?
Xu told China Economic Weekly. What is the specific personal salary of the executives of central enterprises supervised by SAAC? SAAC has never published it, which is a trade secret. ?
According to Xu, Ma, the chairman of China Ocean Shipping Company, and Fu Chengyu, the chairman of China Petrochemical Company, all need to go to the group company to get their salaries after assessment, so their salaries are not published in the annual report.
However, the reporter combed the salary announcement of the chairman of the listed companies of central enterprises and found that Fu Chengyu and others, all executives of central enterprises directly under SASAC, did not announce the salary, while Zhou Jiping, chairman of China Petroleum [0.38% fund research report] (annual salary 1.2 1.20 million yuan) and Xiong Weiping, chairman of China Aluminum (annual salary 770,300 yuan) announced the salary.
Su Hainan, vice president of china association for labour studies and president of china association for labour studies Salary Professional Committee, told China Economic Weekly that the wages of central enterprises directly supervised by SAAC in the State Council were assessed and paid by SAAC; Its secondary and tertiary institutions are all listed companies, and their executive compensation is paid by the board of directors of listed companies. However, the executive compensation sent by the parent company (group company) shall be supervised by the parent company (group company), and all the executive compensation of listed companies shall be disclosed in the annual report; The parent company (group company) approves the remuneration of senior executives of wholly-owned and holding companies whose subordinate secondary and tertiary institutions are not listed; This aspect is not in place at present. The executive compensation of financial central enterprises is determined by the Ministry of Finance, and the CBRC, CSRC and CIRC participate in the supervision; However, there are also many problems in actual implementation.