Several major Chinese banks are clawing back bonuses and cutting salaries due to a sluggish economic recovery. The trend indicates increased scrutiny of the financial sector in Beijing.

Several major Chinese banks have clawed back staff bonuses or cut salaries amid a sluggish economic recovery and Beijing’s ongoing scrutiny of the financial sector. In their annual reports, an increasing number of lenders, ranging from state-owned institutions to commercial banks, are disclosing the amount of performance-based compensation reclaimed from their employees last year. State-owned Bank of China recovered 47.18 million yuan (US$6.9 million) from 4,630 individuals in 2025, according to...