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Report Says China Asks Brokers to Tighten Bonus Payouts
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According to Bloomberg, citing sources, China has required domestic brokers to defer a larger proportion of employee bonuses, doubling the deferred portion for mid- to senior-level management and top investment bankers from the previous 20% to 40%. Some large state-owned brokers such as CITIC SEC (06030.HK) have already complied. After experiencing a two-year downturn, the securities industry has seen a full recovery in the capital markets, with the number of IPOs surging 30%. Official data showed that total profits of Chinese brokers rose 31% YoY last year to RMB219.4 billion. It is understood that bonuses for outstanding employees at some firms jumped as much as 50% YoY, prompting regulators to adopt a tougher stance. (mn/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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