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China’s Financial Elite Face $400,000 Pay Caps, Bonus Clawbacks (www.bloomberg.com)

submitted 3 months ago by [email protected] to c/[email protected]

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[–] [email protected] 11 points 3 months ago (3 children)

Does anybody actually dislike this result?

[–] [email protected] 12 points 3 months ago (1 children)

Billionaire CEOs. Imagine if Elon had to comply because Tesla has a factory in China.

[–] Reddfugee42 8 points 3 months ago

I just came

[–] [email protected] 5 points 3 months ago

I do, but only because said "financial elite" exists to begin with

[+] VelvetStorm -4 points 3 months ago (3 children)

[removed by mod]

[–] [email protected] 2 points 3 months ago

The Chinese national government has a surplus, but the local and provincial governments are running massive deficits and have been for a while. I wouldn't be surprised if a lot of these actions are to free up cash for the necessary wealth transfer to keep the popping of the property bubble from becoming too catastrophic to the retiring population.

[–] [email protected] 2 points 3 months ago

That makes no sense when the CPC can already create as many Yuan as it pleases out of thin air.

[–] [email protected] 1 points 3 months ago (1 children)

Why did you put taxes in quotation?

[–] VelvetStorm -2 points 3 months ago

Because the local governments are just going to be embezzling it at the end of the day.

[–] [email protected] 0 points 3 months ago

Nov. 2023: Biden says he still believes Xi Jinping is a dictator 🤡