Finance is No Longer the Darling Career in Xi Jinping’s New Economic Order

Quick Summary:

As China shifts its focus from finance to technology, the ripple effects are profound and far-reaching.

The broader implications of these changes extend beyond finance, reflecting a national development strategy that prioritizes growth, technological advancement, and social equity — objectives that can be rapidly implemented given the central leadership’s unchecked power.

The 3 million yuan (approximately $412,460) annual salary limit is part of a broader campaign to address income disparity and discourage the hedonistic lifestyles that have become synonymous with the financial elite.

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Article Details

Author / Journalist: Lizzi C. Lee

Category: Economy

Markets: United StatesAustraliaBangladeshChinaHong KongIndiaIndonesiaIsraelNorth KoreaPakistanTaiwanUkraine

Topics: Financial Cicc Sector Finance Industry China Priorities Broader National Become

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-10 @ 22:14:00 (6 days ago)

News Timezone: GMT +8:00

News Source URL: thediplomat.com

Language: English

Article Length: 2450 words

Reading Time: 14 minutes read

Sentences: 126 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © The Diplomat

News ID: 21657890

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Official Website: thediplomat.com

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