In an unprecedented event, the Chinese banking sector is witnessing a sweeping wave of industrial action, the epicentre of which is Shanghai, China’s financial powerhouse. On May 11, the headquarters of the Shanghai Pudong Development Bank (SPDB), a banking giant ranked ninth nationwide, turned into an amphitheatre of dissent, teeming with striking staff. Recent annual reports and industry data, released by listed securities firms in China, reflect a sobering reality of substantial dwindling in average empl
