Xi crackdown on ‘hedonistic’ bankers fuels industry brain drain

HER annual bonus was slashed by 60 per cent and her salary was frozen. Family expenses are on the rise with two kids in school. After a rough 2023, it did not take long for Gracie, who works at an investment bank in Shenzhen, to come up with her resolution for the Year of the Dragon: landing a job just across the border in higher-paying Hong Kong.