China's economic crackdown on real estate and finance leads to salary declines for finance workers.

China's economic crackdown on sectors like real estate and finance has led to salary declines for finance workers, now dubbed "finance rats." President Xi Jinping's focus on reducing inequality and promoting loyalty to the Communist Party has resulted in tighter regulations and a shift away from personal wealth. New rules aim to optimize salary structures, while efforts to combat corruption target the finance industry, reflecting a broader societal push against wealth disparity.

October 10, 2024
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