Wednesday, April 09, 2008

High salary because area, "the non-state-owned"

High salary because area, "the non-state-owned"
"Beijing lawyers carry 1,055 owners of eight letter to the China Insurance Regulatory Commission within one year" tracking
Yesterday, the first time China Ping An spokesman on the "safe lawyers questioned executive pay" response to the reports, saying he would pay the so-called risk-management and executive pay so far-fetched to link is not consistent with the facts, "the Published such serious false statements and the use of the media speculation, the company will be in accordance with the development of the situation will take appropriate legal measures, and reserves the right of recourse. "
The spokesman said, the TAC-risk insurance as a public service, not a profit-motivated. Companies related financial reports, including operating costs, the cost-sharing have been recognized international accounting firm audit, and in strict accordance with the relevant provisions of the China Insurance Regulatory Commission accounting, cost allocation is reasonable. From a business perspective, the TAC strong safety risk in the property and casualty insurance business accounted for only a small proportion of production and safety risk on the contribution of the group's business accounted for less than 10 per cent. "Therefore, the so-called cross-risk operation and safety executive remuneration linked to the far-fetched, it would not be practical."
Reporters noted that the issue of media coverage, particularly China Ping An area referred to the company's "non-state" status, the implication seems to be in response to the outside world will be safe executives salary and the salaries of state-owned enterprises leadership simple comparison. The spokesman said, China is a safe non-state-owned Chinese enterprises, the management of peace is not sent by the Government, but by the work, in the market. 20, safe from scratch, from the total assets of 53.12 million yuan to 651.1 billion yuan, Ma Mingzhe, Sun Jian First Peace founder made outstanding contributions. Therefore, the company's board of directors developed a "one company, two systems" pay mechanism, and the other is in line with the international pay system, mainly applicable to foreign staff and executive directors, and the other is with the domestic level and the system Adaptation of the pay system, applicable to the vast majority of the membership staff. The pay structure of listed companies in line with regulatory requirements, and as early as 10 years ago already introduced.

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