Senior Securities Officials Take Pay Cuts of up to 60 Percent

(Beijing) – Salaries for top executives at China's stock markets and other financial institutions overseen by the securities regulator have tumbled up to 60 percent in 2015, under a government campaign to rein in excess at state-owned institutions.

Zhou Ming, chairman of China Securities Depository and Clearing Corp. Ltd., earned the most among senior managers at major state-owned institutions in the securities industry, with pretax income of 856,000 yuan ($129,700) in 2015, according to data released by the China Securities Regulatory Commission (CSRC) and complied by Caixin.