A major development has emerged in the financial sector. China merchant fund management, one of china's top fund management firms is demanding that senior executives return pay exceeding a new salary cap set by the government.

China's 'common prosperity' drives reform

China, the biggest consumer market in the world, will soon see tangible measures that will help boost consumption, which drives the Chinese economy. The Chinese government on Monday unveiled plans to help consumption, especially in the automobile, real estate and services sector. All three sectors are considered the growth engines of the Chinese economy.

Chinese government unveils plans to revive consumption

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China's 'common prosperity' drives reform

Chinese government unveils plans to revive consumption