China's finance elite face $400,000 pre-tax pay cap, bonus clawbacks

Q: How long will it take to read this news story?

The story "China&#039;s finance elite face $400,000 pre-tax pay cap, bonus clawbacks" has 576 words across 22 sentences, which will take approximately 3 - 5 minutes for the average person to read.

Q: Which news outlet covered this story?

The story "China&#039;s finance elite face $400,000 pre-tax pay cap, bonus clawbacks" was covered 4 days ago by Business Standard, a news publisher based in India.

Q: How trustworthy is 'Business Standard' news outlet?

Business Standard is a fully independent (privately-owned) news outlet established in 1975 that covers mostly business and finance news. The outlet is headquartered in India and publishes an average of 233 news stories per day. It's most recent story was published 2 hours ago.

Q: What do people currently think of this news story?

The sentiment for this story is currently Neutral, indicating that people are not responding positively or negatively to this news.

Q: How do I report this news for inaccuracy?

You can report an inaccurate news publication to us via our contact page. Please also include the news #ID number and the URL to this story.<ul><li>News ID: #21404058</li><li>URL: https://beamstart.com/news/chinas-finance-elite-face-400000-17195134871747</li></ul>

Business Standard Logo Business Standard 4d ago

China's finance elite face $400,000 pre-tax pay cap, bonus clawbacks - Business Standard

Quick Summary:

Some mutual fund managers are also being pressured to return non-compliant pay earned in previous years, the people said.

The move comes as China recently started a new round of anti-graft inspections of some of its largest state lenders, the central bank and key regulators, the first broad probe since the one in 2021 that sent shock-waves through the industry.

Vilified by Beijing as “hedonists” over their lavish lifestyles, top-earning finance workers including investment bankers and fund managers have been among the hardest hit by Xi’s push for a more equal distribution of wealth.