Part 2/8:
In a shocking turn of events, reports from UK-based writers reveal that Beijing has enforced substantial pay cuts for employees at its top three financial regulators—the People's Bank of China, the National Financial Regulatory Administration, and the China Securities Regulatory Commission. As part of a broader reform initiative initiated in 2023, these cuts serve to align salaries with those of other civil servants. Effective this month, staff could see reductions of up to 50%, with department heads facing cuts nearly double that of their previous earnings.