China’s companies cut back on year-end bonuses as profit margins narrow

As China’s workforce heads into another year-end bonus season ahead of the Lunar New Year, the mood is colder than in previous cycles. Unlike a few years ago, when social media was flooded with posts flaunting outsized payouts, public talk of bonuses has largely faded from view. Long viewed by Chinese employees as a barometer of corporate prospects, industry momentum and even the broader economy, the year-end bonus packages for 2025 have become smaller, rarer and far more unevenly distributed,...