Reuters exclusively revealed that China International Capital Corp (CICC) (3908.HK) intends to cut bonuses by as much as 40% in one of the financial sector’s biggest cuts in two years since a renewed government push to narrow income disparity.
Business & Finance
Brokerage CICC slashes bonuses as Beijing dials up income disparity rhetoric
06 April 2023, 3:55 pm 1 minute
Market Impact
Wages at leading Chinese investment banks have been trending downward in the last couple of years as COVID-19 containment measures slowed deal-making activity in the world’s second-largest economy.
Article Tags
Topics of Interest: Business & Finance
Type: Reuters Best
Sectors: Business & Finance
Regions: Asia
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Significant National Story
