China’s well-heeled financial dealmakers are getting a crash course in austerity with pay cuts and perks reined in, as their state-owned employers respond to Beijing’s “common prosperity” drive, eight people with knowledge of the matter said. State-owned investment banks including China International Capital Corp (CICC) and Citic Securities have implemented pay cuts this year as well as delayed bonus payments to their staff, four of the people said. The cuts, in some cases, amounted to as much as 60%, they said.