China's Economic Struggles Drive Exodus In Finance Industry

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Amid China's regulatory crackdown, some finance professionals have pivoted to different careers, from education services to stand-up comedy, per a new report.

Faced with slower-than-expected economic growth and increased regulation, some Chinese financial professionals have been leaving the industry for opportunities in other fields, per a new report.Goldman Sachs this week raised its GDP growth forecast for China from 4.7 percent to 4.9 percent, signaling optimism over Beijing's most comprehensive stimulus measures in years. However, the regulatory crackdown on China's $67 trillion financial sector continues to worry investors.

Others have made even more dramatic career shifts, per Reuters. Wu Shichun, a venture capitalist and founder of Ningbo-based Plum Ventures, has found a second calling as a stand-up comedian, the report said.'I feel grateful for such a difficult time. It's a source of fodder for my performance,' Wu said at a performance, per the news outlet. 'Nowadays, everywhere in this industry, you come across deadbeat investors and entrepreneurs on the verge of life and death.

 

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