Xi Jinping wins praise for going after SOE bosses' hefty salaries
Xi Jinping wins favour as his campaign against privilege targets the hefty pay packets of state enterprise bosses
It is widely believed that inequality is one of main reasons behind many violent revolutions in history. And several Chinese leaders have recently warned that the nation now closely resembles France on the eve the French Revolution in 1789, when society was divided between the privileged and unprivileged.
That is why President Xi Jinping, since he came to office in late 2012, has focused on wars against the privileged, in an effort to reduce social inequality and disparity that threaten communist rule.
His latest move was to cut the hefty salaries of executives at state-owned enterprises (SOEs) as a way to regulate the income-distribution system.
At a high-level meeting last week, Xi said the "unreasonably high and excessive incomes" of officials-turned-executives must be regulated.
For a long time, the SOEs have been a source of public discontent because of their monopoly status. Consumers have long complained of substandard products and excessive prices from SOEs.
They are hated just as much for giving hefty salaries and spending on lavish entertainment and generous perks for their executives. Their huge profits and alleged corruption have also earned them scorn.
Xi's initiative has been well received. State media reacted with commentaries and editorials supporting reform and lambasting the luxurious lives of senior executives. In an article, Xinhua gave a list of SOE executives and their perks, including expensive meals, fancy cars and golf games.
