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CN Central/ SOE Brokers Reportedly Cap Senior Executive Annual Salaries at RMB3M
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The central/ state-owned enterprise (SOE) brokers of China have started implementing an annual salary cap of RMB3 million for senior management, with other employees' salaries set based on their rank, according to 21st Century Business Herald, citing sources. Previously, senior management at brokers often earned between RMB5 million and over RMB10 million. Based on the 2024 annual reports of Chinese brokers, most senior management's annual salaries were already reduced to below RMB3 million, report told. Among them, CITIC SEC (06030.HK) Chairman Zhang Youjun’s salary shed to RMB2.3033 million, and CICC (03908.HK) Chairman Chen Liang’s annual salary fell to RMB1.438 million. AAStocks Financial News |
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