China has set a ceiling for payments given to senior executives at state-owned financial institutions. Top officials at these enterprises cannot have more than 2.8 million yuan per year.
The regulation also classifies all positions into 5 rankings. These rankings have their basic annual payments between 700 thousand Yuan and 50 thousand yuan. The state-controlled GuoTai Jun'an Securities has been under heavy scrutiny as the company's payroll exceeded 3.2 billion yuan in 2008.
(CCTV February 10, 2009)
