Chinese State-Owned Enterprise CEO Salaries Revealed... Top Salary is 175 Million KRW

"Emphasizing 'Lower than the Average of Executives in Listed Companies'"

The State-owned Assets Supervision and Administration Commission of China (SASAC) has disclosed the salaries of CEOs of state-owned enterprises (SOEs). It emphasized that these salaries are relatively lower compared to the average salaries of executives at listed companies.

According to Chinese media Jinlongjie on the 4th, SASAC revealed that based on 2022 data, the highest-paid SOE executive was Wang Dongjin, President of China National Offshore Oil Corporation (CNOOC), with a salary of 960,800 yuan (approximately 175 million KRW). Following him were Ma Yongsheng, President of China Petrochemical Corporation (Sinopec), with 953,400 yuan; Dai Houliang, President of China National Petroleum Corporation, with 952,900 yuan; and Yang Jie, President of China Mobile, with 947,600 yuan.

Other top earners included Mao Zenmin, President of Chaoxiang Group, with 944,700 yuan; Liu Guoyue, President of State Energy Investment Corporation, with 947,000 yuan; Wan Min, President of China COSCO Shipping Corporation, with 935,500 yuan; and Xin Baoan, President of State Grid Corporation of China, with 935,300 yuan.

According to the released data, the average annual salary of SOE CEOs is about 800,000 yuan, with over 80% earning between 600,000 and 1,000,000 yuan. Approximately 22 CEOs earn more than 900,000 yuan, but none exceed 1,000,000 yuan.

Local media highlighted that this level is significantly lower than the average salary of CEOs at A-share listed companies in the same year. Jinlongjie reported, "Among A-share listed company CEOs, more than 1,900 earn over 1,000,000 yuan," adding, "More than 110 earn over 5,000,000 yuan." It further emphasized, "The average salary of general executives also typically exceeds 1,000,000 yuan," underscoring that the income level of SOE executives is relatively lower than that of executives at listed companies.

This content was produced with the assistance of AI translation services.