(Beijing Bloomberg) Some Chinese banks have reportedly reduced employees' business trips, including requiring employees to not choose business class and cheaper hotel rooms to reduce costs when they are required to take a plane to reduce costs.
Bloomberg Society on Thursday (January 4) quoted people familiar with the matter reported that institutions such as Industrial Bank and other institutions notified their employees at the end of the month that the heads of branch and head office department should book the cheapest train seats as much as possible.Book the business class.Daily accommodation standards in large cities in China are reduced by at least 10%.
People familiar with the matter said that other banks including Minsheng Bank and CITIC Bank also tightened the rules of travel expenditure.
Bank of China is facing the pressure of continuing to provide loans to the real estate industry and local governments.As of September last year, the average net interest difference between Chinese banks fell to a historical low of 1.73%, falling below 1.8%of the threshold required to maintain reasonable profitability.
In addition, Chinese officials also released the reduction signal last year.Members of the Central Committee of the Communist Party of China required the financial field to rectify hedonism and extravagance, and to break the "Financial Elite theory" .
