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Dispatches: Chinese professionals are burning out on the job

An attorney in an American law firm in Shanghai, Ms Wang, 28, works approximately 3,000 hours a year, which translates into 375 days on the job if it is averaged out to eight-hour days. She is among the many elite members of China’s new class of upwardly mobile who are feeling the strain. Even as they strive to clamber up the corporate ladder, many are so drained by the effort that they are experiencing burn-out. (Asia One)

3i aims to raise a renminbi-denominated fund to invest in Chinese private equity in an ambitious two-year expansion plan outlined by the group’s chief executive. (Financial Times)

China has officially launched a new system to allow banks to trade loans on the country’s interbank market, the People’s Bank of China said Saturday, a move that would help banks beef up capital, reduce risks, and lead to further liberalization of interest rates. (Wall Street Journal)

ANZ will today formally open its Chinese operations in the Sichuan province capital Chengdu, underling its commitment to the market. (The Australian)

The insurance arm of HSBC booked a 36 per cent jump in first-half profit to US$1.67 billion (HK$13.01 billion), with 52 per cent of net income contributed by Asia Pacific business, said head of insurance David Fried. (The Standard)

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