Chinese firms adopt the million-dollar bonus

Can we please stop calling China a communist state now? The million-dollar bonus has arrived in China’s financial services industry as local firms, buoyed by the spectacular boom in the country’s markets, compete to hire from the small pool of experienced staff. […] Although a small group of well-known dealmakers has been paid large compensation ...

Can we please stop calling China a communist state now?

Can we please stop calling China a communist state now?

The million-dollar bonus has arrived in China’s financial services industry as local firms, buoyed by the spectacular boom in the country’s markets, compete to hire from the small pool of experienced staff. […]

Although a small group of well-known dealmakers has been paid large compensation packages over the past decade, the seven-figure bonus is relatively new for most of China’s financial sector.

The fund management industry has seen an explosion in assets under management from $40bn in 2005 to around $450bn by the end of 2007, the result of rising share prices and massive inflows of retail money.

More from Foreign Policy

Newspapers in Tehran feature on their front page news about the China-brokered deal between Iran and Saudi Arabia to restore ties, signed in Beijing the previous day, on March, 11 2023.
Newspapers in Tehran feature on their front page news about the China-brokered deal between Iran and Saudi Arabia to restore ties, signed in Beijing the previous day, on March, 11 2023.

Saudi-Iranian Détente Is a Wake-Up Call for America

The peace plan is a big deal—and it’s no accident that China brokered it.

Austin and Gallant stand at podiums side by side next to each others' national flags.
Austin and Gallant stand at podiums side by side next to each others' national flags.

The U.S.-Israel Relationship No Longer Makes Sense

If Israel and its supporters want the country to continue receiving U.S. largesse, they will need to come up with a new narrative.

Russian President Vladimir Putin lays flowers at the Moscow Kremlin Wall in the Alexander Garden during an event marking Defender of the Fatherland Day in Moscow.
Russian President Vladimir Putin lays flowers at the Moscow Kremlin Wall in the Alexander Garden during an event marking Defender of the Fatherland Day in Moscow.

Putin Is Trapped in the Sunk-Cost Fallacy of War

Moscow is grasping for meaning in a meaningless invasion.

An Iranian man holds a newspaper reporting the China-brokered deal between Iran and Saudi Arabia to restore ties, in Tehran on March 11.
An Iranian man holds a newspaper reporting the China-brokered deal between Iran and Saudi Arabia to restore ties, in Tehran on March 11.

How China’s Saudi-Iran Deal Can Serve U.S. Interests

And why there’s less to Beijing’s diplomatic breakthrough than meets the eye.