Qingdao Haier, a home appliance arm of Haier Group, announced yesterday it has mapped out a stock option incentive plan to reward management and gather steam for the enterprise's long-term development.

The State-owned giant is set to grant 80 million share options, amounting to 6.69 per cent of the company's existing share capital, to its senior managers and selected staff. Each share is offered at 7.63 yuan (98 US cents).

"We are becoming increasingly aware that a good connection of the interests between senior leaders and the company can help bring about the sustainable development of the company," said Ji Dong, secretary of the board of directors of Qingdao Haier, a major domestic producer of refrigerators and air conditioners.

"Qingdao Haier is among dozens of China's early-listed State-owned companies. Its top managers hold an inadequately small number of shares, which inevitably quashes the company's vitality and consequentially lowers investors' confidence in us," he added.

"Whether stock prices serve more as the barometer of the company's performance is an important index to judge the maturity of an economy. It is high time for Chinese listed companies to shift concern from focusing on personal income to maximizing shareholders' interests as a whole," he added.

Source:佚名