China Tells Banks, Wealth Fund to Cut Pay as Economy Slumps
Chinese one-hundred yuan banknotes sit on a black background in this arranged photograph in Hong Kong, China. (Photographer: Paul Yeung/Bloomberg)  

China Tells Banks, Wealth Fund to Cut Pay as Economy Slumps

(Bloomberg) -- Chinese authorities are doubling down on pressure to get the nation’s biggest state-owned financial groups to reduce salaries in a bid to boost returns as the virus-hit economy faces...
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