Rumored Pay Cap for State-Owned Securities Firms Fuels Debate

Speculation that a looming annual pay cap of 3 million yuan ($414,400) would be imposed on the top brass of China’s state-owned securities companies has fueled the already heated discussion of an industrywide salary reduction, as the sector endures a post-pandemic economic slowdown and adapts to President Xi Jinping’s “common prosperity” campaign to reduce inequality.