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Top China bankers' salaries halved in 2015

Published Tue, Apr 5, 2016 · 09:50 PM
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Beijing

THE chairmen and presidents of China's five biggest banks saw their 2015 compensation slashed by a record 50 per cent, the lenders' annual reports showed, after Beijing-mandated pay reforms for executives of state-owned firms were implemented last year.

Jiang Jianqing, chairman of Industrial and Commercial Bank of China (ICBC), the world's biggest lender by assets, made less than 550,000 yuan (S$115,340) in total compensation last year, down 52 per cent from 1.1 million yuan in 2014, according to the bank's latest annual report.

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