CSRC’s new chief Wu Qing has sought to improve corporate governance and close deep valuation discounts in a bid to revive investors’ faith in China’s US$9 trillion stock market and these bold moves have met with some early success.
China’s stockbrokers took another pay cut in 2023 as the double whammy of a slumping equities market and a government crackdown on corporate extravagance eroded the incomes of financial workers. Things don’t look much better this year, one fund manager says.