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Bloomberg News, Bloomberg News People take an escalator in the Lujiazui financial district in Shanghai, China, on Monday, Dec. 21, 2020. China’s central bank is striking out on its own with signals of tighter monetary policy, widening a divergence with other large economies that will shape global capital and trade flows next year. Photographer: Qilai Shen/Bloomberg , Bloomberg (Bloomberg) China’s two largest investment banks are making broad cuts to travel budgets that will impact junior bankers as well as senior directors as they seek to reign in costs and boost profitability. Starting this month, CSC Financial Co. managing directors’ domestic travel will be downgraded to economy flights and second class or hard-berth train seats, according to a memo seen by Bloomberg. Larger rival Citic Securities Co. also asked managing directors to fly coach, according to a separate memo, which did not specify which class of

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