China’s ‘common prosperity’ forces investment bankers to cut their lavish paychecks

According to Reuters, Chinese bankers and high-paid jobs in Chinese state-owned enterprises began to cut their salaries and compensations in response to the regime's "common prosperity" drive.

Multiple sources told the news outlet that Chinese state-owned investment banks, China International Capital Corp and Citic Securities, reportedly cut salaries and delayed bonuses for the year. In some cases, the cut is as much as 60% of the compensation.

-------------------
#SpotlightOnChina #China #ChinaInsights