Chinese state-backed financial firms in Hong Kong ask employees to return a portion of pay under Xi Jinping's "common prosperity" campaign.
China's largest state-backed financial firms in Hong Kong are requesting employees to return a portion of their pay, extending President Xi Jinping's "common prosperity" campaign. China Everbright Group and China Huarong International Holdings executives and former employees have been asked to repay past bonuses. The clawback amounts to under 10% of bonuses at China Everbright and the extent of the policy's impact on other employees is unclear.
July 16, 2024
3 Articles