Top executives at China’s biggest brokerages have seen their pay slashed in the past two years against a backdrop of struggling financial markets and Beijing’s efforts to reduce inequality, according to disclosures.
The top three executives at some of China’s leading state-backed brokerages, including CSC Financial, Citic, China International Capital Corporation (CICC), Huatai Securities and Guotai Junan Securities, suffered pay cuts in 2022 and 2023, according to data released by provider Wind and based on official disclosures.
Overall, nine of the top 10 brokerages by revenue recorded a fall in remuneration last year for their best-paid employees.
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