Workers made about $800 a month and received social benefits.
He added that the workers had not received a raise in three years.
Is someone saying workers should receive less where house prices are lower?
Because of the company's financial problems, workers have not received raises for two years.
Workers also receive 13 days of sick leave a year.
Workers with thirty years' service would receive $100 a month.
All the workers in question received the payments they were due, he added.
But they are probably high relative to what other workers of similar skills receive in China.
In return, the workers would have received greater health and pension benefits.
The workers will receive the money when they leave state employment.