Stock Market Executives Said to Take Big Pay Cuts

(Beijing) – Top executives at six stock, commodity and futures exchanges in China, including the Shanghai and Shenzhen bourses, have apparently taken a pay cut of up to two-thirds to bring their salaries in line with those at other state-owned institutions.

The pay cuts, which have not been made public, were backdated to January, a person with knowledge of the matter said. The other four markets were the Shanghai Futures Exchange, China Financial Futures Exchange, and the Zhengzhou and Dalian commodity exchanges.