Xi crackdown on ‘hedonistic’ bankers fuels industry brain drain

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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.