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China bankers told to shun flashy clothes, 5-star hotels in austerity drive | Hellenic Shipping News Worldwide hellenicshippingnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from hellenicshippingnews.com Daily Mail and Mail on Sunday newspapers.
Chinese financial firms are implementing austerity measures, including cutting salaries and bonuses and curbing flashy lifestyles, as Beijing cracks down on corruption and tries to bridge the wealth gap. ....
By Xie Yu, Ziyi Tang and Julie Zhu HONG KONG (Reuters) - From cutting salaries and bonuses and asking staff not to wear expensive clothes and watches . ....
Financial professionals are among the highest-paid workers in China, and their wealth has drawn public criticism on social media as the economy slows, drawing Beijing's ire as well. ....
From cutting salaries and bonuses and asking staff not to wear expensive clothes and watches at work, to reining in travel and entertainment expenses, Chinese financial firms have jumped on an austerity drive as Beijing pushes to bridge the wealth gap. Financial professionals are among the highest-paid workers in communist China and their wealth and flashy lifestyles have often come under criticism from the public on social media as the economy slows, drawing Beijing's ire as well. China's top graft-busting watchdog earlier this year vowed to eliminate ideas of a Western-style "financial elite" and rectify the hedonism of excessive pursuit of "high-end taste". ....