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Salaries for top bank execs on the rise

(Global Times)

08:12, June 06, 2012

Salaries for senior executives at major banks in China are on the rise, according to information released from several recently held board meetings.

The presidents and chairmen of five major State-owned commercial banks will enjoy an average annual pay of more than 1.6 million yuan ($251,000) in 2012, higher than the figure of around 1 million yuan released in banks' annual reports last year.

Their yearly salaries, before taxes, include annual base pay, performance bonuses and social welfare. On average, the basic annual pay for the banks' chairmen and presidents are 465,000 yuan and 418,500 yuan respectively.

Among them, the highest performance bonus is 1.17 million yuan, while the lowest is 1 million yuan.

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