FAW, Dongfeng Disclose Chairmen's Term-Based Incentive Pay: Qiu Xiandong Receives ¥825,400, Yang Qing ¥587,200

The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) recently disclosed the term-based incentive compensation for heads of over 80 centrally administered state-owned enterprises (SOEs) for the 2022–2024 term. Qiu Xiandong, Chairman of China FAW Group Corporation, received RMB 825,400 in term-based incentive compensation during his tenure as Director, Deputy Party Secretary, and subsequently as Chairman and Party Secretary. Yang Qing, Chairman of Dongfeng Motor Group Co., Ltd., earned RMB 342,500 during his service as Director, General Manager, and Deputy Party Secretary, and an additional RMB 244,700 after assuming the roles of Chairman and Party Secretary, totaling RMB 587,200. According to relevant regulations, the compensation for executives of centrally administered SOEs consists of annual salary and term-based incentive payments, which are disbursed once every three years.