Bank of China starts nationwide move to reduce salary gap among employees, manager levels -sources

A man rides his bicycle across the street under the Guomao bridge at the Central Business District in Beijing, China, October 19, 2015. REUTERS/Jason Lee/File Photo BEIJING, Aug 14 (Reuters) – Bank of China Ltd (601988.SS), China’s fourth-largest lender by assets, has launched a countrywide exercise to reduce the salary gaps among its employees and mid- and high-level managers in response to Beijing’s “common prosperity” drive, three sources with knowledge of the matter said. President Xi Jinping launched the common prosperity drive in 2021 as an effort to reduce income inequality, which could threaten long-term economic growth and even the…