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BEIJING -- More controls will be placed on the senior management of China's financial enterprises that fall under the central government.
According to a government news release Sunday, the regulation will guide financial enterprises under the jurisdiction of the central government to attach equal importance to both profit-generating and risk-control, and to increase the number of "high-quality socialist bankers."
The regulation makes explicit provisions on the qualifications, appointment, promotion, performance evaluation of senior bank managers, and supervision over them.
The regulation states that performance evaluation will be a key element in appointing and promoting senior managers.
China will strictly standardize supervision of pay and bonuses for senior management in financial institutions as a measure to narrow the income gap, Premier Wen Jiabao said at the just concluded annual session of the National People's Congress, China's parliament.
