After months of delays as they deliberated on how to navigate President Xi Jinping's push for "common prosperity", China's biggest investment banks are now starting to pay out long-awaited bonuses.
China International Capital Corp (CICC) this week told some senior bankers that their compensation for 2022 will be cut by more than 40 per cent, according to people familiar with the matter.
CICC, whose pay for bankers has historically been on a par with that of global firms such as Goldman Sachs and UBS, is slashing bonuses after a tough year that saw profit drop by 30 per cent.
Esta historia es de la edición May 25, 2023 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor ? Conectar
Esta historia es de la edición May 25, 2023 de The Straits Times.
Comience su prueba gratuita de Magzter GOLD de 7 días para acceder a miles de historias premium seleccionadas y a más de 8500 revistas y periódicos.
Ya eres suscriptor? Conectar
‘I'LL WIN SOMEWHERE ELSE’
Ten Hag sends warning to United, who will review season and his future this week
MBAPPE LEAVES PSG ON A HIGH
Ligue champs complete domestic double with 2-1 win over Lyon in French Cup final
‘SO UNBELIEVABLE’ FOR LECLERC
Ferrari driver wins home Monaco GP for the first time amid collision drama
KOK HAS HIS RED-LETTER DAY
After lean spell and four-month working holiday, top jockey finally salutes again
Keppel makes big strides in sustainability after exiting oil-rig business
Green moves deliver cost savings of about 95m in 2023 for asset owners and operators
China has a plan for its housing crisis, but it’s not enough
Beijing has bigger problem lurking behind millions of empty apartments, say experts
First batch of design and Al students graduating from SUTD; over half have got jobs already
Thirty students from the Singapore University of Technology and Design (SUTD) will be the first to graduate with a degree in design and artificial intelligence (DAI) on May 28.
Chempaka residents worry about future with IO years left on leases
They hope the trustees managing the land will give them option to top up and stay on
Macron arrives in Germany on State visit to soothe ties
French President Emmanuel Macron arrived in Berlin on May 26 on the first state visit to Germany by a French president in a quarter of a century, seeking to ease recent tensions and warn of the dangers of the far right ahead of European Union elections.
16 killed, 43 hurt in Russian strike on DIY superstore
Ukrainian President condemns daylight attack on an obviously civilian’ target