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How many state-backed financial institutions in China will have executives returning excess salary by December 31, 2024?
3
Resolution / Starting Odds
0-1 • 25%
2-3 • 25%
4-5 • 25%
More than 5 • 25%
Official announcements and financial disclosures from state-backed financial institutions in China
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China Caps Annual Salaries of State-Backed Financial Executives at RMB 3 Million (US$412,460)
Jul 5, 2024, 04:46 PM
China has announced a significant policy change, capping the annual salaries of financial sector executives at RMB 3 million (US$412,460) for those working in state-backed institutions, including banks, mutual funds, and brokerages. This measure, part of broader reforms initiated by President Xi Jinping, aims to make finance serve the real economy and the nation, reversing the Wall Street model. The salary cap will be applied retroactively, meaning those who earned more than the specified amount in recent years may have to return the excess money. The reforms are seen as a move to curb excessive capitalism and align the financial sector with China's common prosperity goals.
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Yes • 50%
No • 50%
Prison sentence over 10 years • 25%
Prison sentence under 10 years • 25%
Fine over 5 million yuan • 25%
Fine under 5 million yuan • 25%
Industrial and Commercial Bank of China (ICBC) • 25%
China Construction Bank (CCB) • 25%
Agricultural Bank of China (ABC) • 25%
Bank of China (BOC) • 25%
Yes • 50%
No • 50%
ICBC • 25%
China Construction Bank • 25%
Bank of China • 25%
Agricultural Bank of China • 25%
Yes • 50%
No • 50%
Bank of China • 25%
Industrial and Commercial Bank of China • 25%
China Construction Bank • 25%
Agricultural Bank of China • 25%
Major restructuring • 25%
Minor changes • 25%
No changes • 25%
Unknown outcome by mid-2025 • 25%
Increased regulations • 25%
Deregulation • 25%
No significant changes • 25%
Unknown outcome by end of 2025 • 25%
Increase stock purchases • 25%
Launch new investment products • 25%
Reduce management fees • 25%
Other • 25%