SHANGHAI, March 10 — China’s securities association has introduced draft guidelines to penalise financial firms whose employees display excessive wealth and luxury.
According to the South China Morning Post, the proposed rules will impose stricter point deductions on companies that offer questionable pay incentives or tolerate public displays of privilege.
Firms will receive publicly available scores based on their corporate culture, aligning with China’s broader push for financial discipline.
“The industry must eliminate money worship, extravagance, and excessive speculation,” regulators stated in previous directives.
High salaries and wealth scandals have sparked public criticism, prompting Beijing to push for more restrained corporate behaviour.
State-backed financial institutions have already introduced salary caps and stricter compliance requirements for top executives.
Foreign-funded securities firms will receive bonus points for promoting China’s capital markets in global media.
The draft guidelines are currently open for industry feedback before being officially implemented.
