Xi Gets 62 Percent Pay Rise With Civil Service, China Daily Say

China’s leaders just awarded all civil servants their first pay increase since 2006, with President Xi Jinping seeing his monthly salary rise to 11,385 yuan ($1,832), the official China Daily reported on Tuesday.

That translates into a yearly wage of Xi’s of $21,984 compared with $400,000 for U.S. President Barack Obama.

Salaries for the lowest ranking civil servants will more than double to 1,320 yuan from 630 yuan, China Daily reported Tuesday in its English-language online edition, citing the Ministry of Human Resources and Social Security.

Monthly pay for the seven members of the Standing Committee of the Political Bureau of the CPC Central Committee, including Xi, will increase 62 percent to 11,385 yuan from 7020 yuan, according to the report.

The wage increase comes after some government officials left their jobs because of low pay, according to China Daily.

The increase is retroactive to Oct. 1 and workers will receive a one-time payment for the difference in wages for the fourth quarter of last year, according to the report. Going forward, salaries will be adjusted every year or every two years. Civil servants receive allowances in addition to a basic salary according to their duties and work position, the report said.

The increase is part of an attempt to establish a scientific wage system that can measure employees’ duties and workload whether they work for the government or a private corporation, the paper cited Yang Yansui, director-general of Tsinghua University’s Employment and Social Security Research Center, as saying.

The State Council also released a plan to unify the pension system for private and government employees, according to the report.

Before it's here, it's on the Bloomberg Terminal.