UNREASONABLY high salaries for executives of major State-owned enterprises (SOEs) must be adjusted, President Xi Jinping said in Beijing on Monday.

    Xi made the remarks at a meeting of the central leading group for comprehensive deepening of reform that he heads.

    The meeting reviewed a plan for reforming the payment system for executives of major SOEs directly controlled by the Central Government and concluded that the plan should be amended further.

    Xi said that SOEs must make sure their salary levels are proper, salary structures reasonable, and salary management strict and efficiently supervised.

    “Unreasonably high and excessive incomes must be regulated,” the president said.

    He urged SOE executives to realize their responsibilities and to accept and support the reform.

    Linking the reform with the Party’s campaign against extravagance and other undesirable work styles, Xi stressed that apart from necessary expenses certified by financial and fiscal regulations, SOE executives will enjoy no other perks in the name of “entitled consumption.”

    An executive of an SOE under the Central Government earns around 650,000 yuan (US$103,000) each year on average, Beijing Times reported yesterday.(Xinhua)