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Chinese conglomerate slashes executives’ pay by up to 83% as debt woes deepen


China Minsheng Investment Group (CMIG), one of the country's largest private investment firms, will cut compensation of its top and mid-level executives by up to 83 per cent starting from this month, in a move to support strategic restructuring, according to a statement released by the company on Tuesday.

Overall compensation of the executives involved will be cut by 53 per cent, with some managers' pay to be slashed by up to 83 per cent . . .

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