2010-06-29 17:29

China is to "strictly" regulate wages of monopoly State-owned enterprises (SOEs) that have hefty revenues, the xinhuanet reported Tuesday.

This was included in the bundle of suggestions submitted by the Ministry of Human Resources and Social Security in its report to the 15th meeting of the 11th National People's Congress.

The report said the ministry is to push forward a collective contracts mechanism to regulate the total amount of wages of monopoly SOEs and to regulate payments to SOE executives.

It also said it will improve and implement the minimum payment mechanism and set guidelines for wages and labor costs.