When it comes to paying the boss, China is closing in on the United States, a new study shows.

Salaries of executives in China rose 8 percent in 2012, compared with 3 percent for US executives, according to the National Salary Comparison study by consultants ECA International.

The numbers, according to the London-based firm, put top Chinese executives on course to wield greater spending power than their US counterparts by 2017.