China State Bankers Face 30% Bonus Cuts as Pay Reform Deepens

Some senior bankers at China’s state-backed financial firms are bracing for bonus cuts of at least 30% as Beijing intensifies a sweeping remuneration reform across its $69 trillion financial sector.

Senior managers, including department heads across business lines at two major state-owned banks, saw their 2025 bonuses slashed by 30% to 50%, according to people familiar with the matter who asked not to be named discussing private information. Division chiefs at a mid-sized national lender also saw their variable pay drop by roughly 40% last year, one of the people said.