Notice of the Ministry of Finance on the Remuneration Management of Principals of State-Owned and State-Controlled Financial Enterprises

财政部关于金融类国有和国有控股企业负责人薪酬管理有关问题的通知

Promulgating Institution: Ministry of Finance

Document Number: Cai Jin [2009] No. 2

Promulgating Date: 01/13/2009

Effective Date: 01/13/2009

颁布机关: 财政部

文      号: 财金[2009]2号

颁布时间: 01/13/2009

实施时间: 01/13/2009

State-owned and state-controlled financial enterprises, finance departments (bureaus) of all the provinces, autonomous regions, municipalities directly under the Central Government, cities specifically designated in state plan, and the Finance Bureau of Xinjiang Production and Construction Corps,

Since 2008, foreign financial enterprises have generally reduced the remuneration of their principals due to the impact of international financial crisis. Currently, domestic financial enterprises have commenced to liquidate the total amount of remuneration in 2008 and prepare the remuneration plan for 2009, and some financial enterprises have adjusted the remuneration of their principals on their own initiative. Under the present particular circumstances, state-owned and state-controlled financial enterprises shall take the initiative to maintain the stability of personnel and regulate the remuneration management. The relevant issues are hereby notified as below:

    各金融类国有和国有控股企业,各省、自治区、直辖市、计划单列市财政厅(局),新疆生产建设兵团财务局:

    2008年以来,受国际金融危机影响,国外金融企业普遍调低了负责人薪酬水平。目前,国内各金融企业正在着手清算2008年薪酬总额和拟定2009年薪酬计划,部分金融企业已主动调整了负责人薪酬。在当前特殊的形势下,国有及国有控股金融企业要带头保持员工队伍稳定,规范薪酬管理。现就有关问题通知如下:

1. All the state-owned and state-controlled financial enterprises shall, by taking the current particular situation into account, reasonably control the remuneration of the principals of agencies at each level, and avoid further enlargement of the gap between their remunerations and the average social incomes and the incomes of such enterprises' internal employees. Such enterprises shall prevent excessively high remuneration regardless of the national conditions, current economic situation, industry development and their own actual circumstances.

       一、各国有及国有控股金融企业要根据当前形势,合理控制各级机构负责人薪酬,避免进一步拉大与社会平均收入水平、以及企业内部职工收入水平的差距。要坚决防止脱离国情、当前经济形势、行业发展以及自身实际发放过高薪酬。

2. All the state-owned and state-controlled financial enterprises shall attach great importance to remuneration management, strengthen the guidance and supervision on remuneration management, firmly implement the relevant state provisions, sincerely execute the internal decision making procedures, and determine the remuneration of relevant personnel strictly in accordance with the requirements of corporate governance.

       二、各国有及国有控股金融企业要重视薪酬管理工作,加强对薪酬工作的领导和监督,坚决贯彻执行国家有关规定,认真履行内部决策程序,严格按照公司治理要求确定相关人员薪酬。

3. All the state-owned and state-controlled financial enterprises shall regulate the on-duty consumption of senior management, strengthen the control of and examination on business management expenditure, correct and curb expenses in violation of applicable provisions in on-duty consumption and extravagance, and gradually reduce on-duty consumption till it is cancelled.

       三、各国有及国有控股金融企业要切实规范高级管理人员的职务消费,加强对经营管理费用的控制和审查,纠正和坚决遏制在职务消费中违规开支和讲排场、摆阔气等奢侈浪费行为,逐步缩小直至取消职务消费。

4. All the state-owned and state-controlled financial enterprises shall suspend the implementation of equity incentive plans and employee stock ownership plans in accordance with applicable provisions. No state-owned or state-controlled financial enterprises may implement such plans before the State issue policies on equity incentive and employee stock ownership of financial enterprise.

       四、各国有及国有控股金融企业根据有关规定暂时停止实施股权激励和员工持股计划。在国家对金融企业股权激励和员工持股政策公布之前,各国有及国有控股金融企业不得实施股权激励或员工持股计划。

5. All the state-owned and state-controlled financial enterprise shall propose specific implementation opinions in accordance with this Notice, and submit them to the financial agencies at the same level prior to January 31, 2009. Departments of finance of all the provinces, autonomous regions, municipalities directly under the Central Government and cities specifically designated in state plan shall collect the remuneration information of the financial enterprises under their respective jurisdiction, and shall report such information to the Ministry of Finance by the end of February 2009.

       五、各国有及国有控股金融企业要按本通知提出具体落实意见,并于2009年1月31日前将有关情况报同级财政部门。各省、自治区、直辖市、计划单列市财政部门汇总所管理的金融企业薪酬情况,2009年2月底前报财政部。

6. Other financial enterprises shall implement this Notice by analogy.

Ministry of Finance

January 13, 2009

       六、其他金融企业参照执行。

    财政部

    二○○九年一月十三日