China Merchants Fund Management (China Merchants FM), under directives aligned with China’s “common prosperity” campaign, has mandated senior executives to return earnings exceeding a newly set CNY3m (USD421,330) annual cap. This salary limit, applicable for the years 2019 to 2023, reflects efforts to mitigate income inequality amid slowing economic growth. The Shenzhen-based firm, a subsidiary of the state-owned China Merchants Group, has already begun reclaiming excess payments from around 60 senior staff and portfolio managers starting July. These moves are part of a broader government initiative targeting extravagant financial sector earnings, further highlighted by recent audits from the National Audit Office emphasising salary caps.