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The mass exodus at China's top state banks

More bankers join financial firms after cuts to pay, perks in Beijing's anti-graft efforts

At Shanghai Pudong Development Bank Co Ltd, a broad 10-20 per cent pay cut at headquarters this year triggered a rush for the exit.


BANKERS at China's top state lenders are quitting in increasing numbers because of cuts to their pay and perks, and moving to a new breed of financial firms such as leasing companies, trusts and online platforms, bankers and headhunters have said.

As part of an austerity,...

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