Workers stressed, confused as China cuts salaries in finance sector
www.abc.net.au
Workers speak out about the impact of wage cuts in the finance sector in China, while simultaneous hikes to public sector pay packets leaves many people confused.

As an accountant in China, Ms Wei works in the finance sector where the government has been cutting and capping workers’ pay.

China’s financial sector is led by state-owned banks and institutions, which are ultimately controlled by the government.

Ms Wei’s monthly salary has been reduced from 6,000 yuan to 4,500 yuan and her year-end bonus slashed by more than half.

“They [the government] started to cut everyone’s salary last July. It’s a heavy blow to my life,” Ms Wei said.

  • Aatube@kbin.melroy.org
    9·
    2 days ago

    On Chinese social media, there have also been complaints of pay cuts from people working for government-related employers in the construction, engineering, and media sectors.

    But with no announcements from authorities about salary reductions in those industries, the scale of the impact remains unclear.

    At the same time, China’s government has increased the wages of public service workers.

    I’m not sure what exactly “public service workers” entails, but since the article mentions them being the foundation of government management, I suspect it to mean only the bureaucrats (known in China as “civil servants” 公务员, which literally translates to “public servicing personnel”) got a raise.