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China bankers told to shun flashy clothes, 5-star hotels in austerity drive | Hellenic Shipping News Worldwide

China bankers told to shun flashy clothes, 5-star hotels in austerity drive | Hellenic Shipping News Worldwide
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Hong Kong , Rong Ma , City Of , United Kingdom , Sumeet Chatterjee , Selena Li , Xie Yu , Binbin Huang , Julie Zhu , Ziyi Tang , Xin Sun , King College London , China International Capital Corp , China Construction Bank Corp , Commercial Bank , Communist Party , East Asian , Shanghai Newsroom , Lincoln Feast ,

Analysis-China bankers told to shun flashy clothes, 5-star hotels in austerity drive

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". ....

Rong Ma , City Of , United Kingdom , Hong Kong , Binbin Huang , Xie Yu , Selena Li , Sumeet Chatterjee , Julie Zhu , Ziyi Tang , Xin Sun , King College London , China International Capital Corp , China Construction Bank Corp , President Xi Jinping , Commercial Bank , Communist Party , East Asian , Shanghai Newsroom , Lincoln Feast ,