Chinese President Xi Jinping is now training his sights on the compensation and perks given to the top officials of state-owned companies as his administration continues its frugality and anti-corruption campaigns, Bloomberg reported.

Citing a statement posted on the government's website, Xi was quoted by Bloomberg saying that "unreasonably high incomes will be adjusted." He also promised that there will be a more stringent monitoring of spending of company officials to ensure these are in line with government regulation and firms' financial policies.

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Xi called on the top bosses of state enterprises to actively support the reforms, the report added. This follows an austerity campaign for government agencies, with orders to scale back spending on lavish banquets and expensive cars.

The Wall Street Journal said no details were provided on how the effort would be carried out. It said Mr. Xi was addressing a committee of officials focused on economic reform.

The paper noted that state-owned enterprises, which dominate crucial sectors, such as energy and resources, have been the focus of the anti-corruption campaign as of late. It added that last year, the top executives of state-run China National Petroleum Corp. have been called out by anti-corruption officials for "severe disciplinary violations."

Since Xi took office in November 2012, he started a campaign to stamp corruption and rein in the extravagant lifestyles of state officials.

With several high-ranking officials already charged, the crackdown has reportedly spooked China's elite into more discreet in spending, with retail sales in Hong Kong and casinos in Macau feeling the pinch. Xi's anti-corruption and frugality drive, however, is widely supported by the public, which sees it as an effort to improve governance and refocus the government to growing the economy. The Wall Street Journal said Communist Party leaders have acknowledged that public discontent over corruption is a major concern.