China unveiled strict new rules Wednesday governing bankers’ pay that are designed to limit risk taking, Reuters reported from Beijing.
Payment of 40 percent or more of an executive’s salary must be delayed for a minimum of three years and could be withheld if the bank performs poorly, the China Banking Regulatory Commission said in a statement on its Web site.
This would ostensibly put China at the forefront of a global movement to use regulation of bankers’ pay as a way to control investment behavior.
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