Lately China Unicom (Guangxi) that has entered the deep end of "mixed ownership reform" took a bold move for progressing in line with industry-leading standards: looking for 2 GMs with "annual pay of over a million Yuan" and 4 Assistant GMs with annual pay of CNY 800,000 for its operations company.
The job listing was announced by Guangxi Zhongdian Xingfa New Communications Co., Ltd., which is a mixed-ownership enterprise founded by China Unicom (Guangxi). Through M&A of Guigang, Baise, Qinzhou and Wuzhou branches, the new firm is in charge of all business operations within the territory.
Wang Xiaochu, Chairman of China Unicom, once noted the target of the institutional reform on talent development upon the "mixed ownership reform"— to enhance employees' sense of fulfillment. For that end, the company sets an industry-leading bar in compensation for employees and increase value of capital in response to partners' needs for maintenance and return, thus creating a win-win situation for China Unicom itself, its partners and employees. Adopting a market-oriented compensation system with courage, China Unicom (Guangxi) sets "base pay of CNY 500,000+performance pay of CNY 500,000" for GM, wherein the performance pay is entwined with GM's performance; so is compensation for Assistant GM with "base pay of CNY 400,000+performance pay of CNY 400,000".