Thanks boss! Chinese company piles up $26million in bonus cash at end of year party with employees staggering off with as much as they can carry
A Chinese company has piled up $26million in cash for its end of year party, allowing employees to go home with as much as they can carry.
The firm, Henan Kuangshan Crane Co. Ltd., held its annual party on February 13 and placed the vast sum of cash on 800 banquet tables.
Under bright, coloured lights, suited employees were seen gleefully eyeing the piles of notes on the tables.
An estimated 7,000 people attended the company’s celebration.
One employee managed to carry home $13,000 worth of cash, according to Korean newspaper Chosun Daily.
During the company’s gala, the firm’s boss Cui Peijun reportedly said: ‘Why are we giving out washing machines? Do you think gold prices have gone up?
‘In previous years, we gave necklaces and rings, bring up the cash and give everyone another 20,000 yuan ($2,800).’
He said of the unusual method of handing out bonuses: ‘Some people ask why we don’t just transfer the money to their accounts, but that way, it’s just cold numbers.’
A Chinese company has piled up $26million in cash for its end of year party, allowing employees to go home with as much as they can carry
An estimated 7,000 people attended the company’s celebration
The firm’s boss Cui Peijun (pictured) said: ‘Some people ask why we don’t just transfer the money to their accounts, but that way, it’s just cold numbers’
Cui holds 98.88% of the company’s shares, effectively returning a major portion of his dividends to employees.
The company, which makes and hires out cranes, was set up in 2002 and has business operations in over 130 countries.
It has a history of generosity towards its employees.
In 2024, the company recorded a net profit of $38million, of which around $24million was given to employees.
In 2023, the firm gave $8.5million to its 40 highest performing workers, with the three best salespeople each earning $730,000.
To celebrate International Women’s Day last March, it gave nearly $230,000 in bonuses to nearly 2,000 female employees.
Peijun has previously spoken out about his motivation for giving out so much money to his staff: ‘It is not that I love giving out money, it is that young people are burdened with car loans and mortgages and any relief we can offer helps.’
In 2022, he gave away $4.7million to over 4,000 university students from low-income backgrounds.
Workers were seen counting out huge sums of money given to them by the crane company
According to the South China Morning Post, Peijun himself was forced to cut his own education short as his family could not afford the fees.
He said of his act of charity: ‘Poverty should not be passed down to the next generation. They shouldn’t be stopped from attending school because of poor living conditions.’
According to data from the World Bank, China has consistently outperformed both the UK and US in terms of GDP growth every year since 1977.
In 2024, China achieved a 5% annual growth. The US saw a 2.8% growth, while the UK saw a paltry 1.1% increase in GDP.
The IMF said in its World Economic Outlook in January that while the UK is expected to grow just 1.3% in 2026, China is set to grow by 4.5%.
Despite this, China’s GDP per capita is still significantly lower than both the UK and US.
The metric is often used as a measure of the standard of living in a nation.
While the US currently has a GDP per capita of $84,534 and the UK has one of $53,246, China is far behind at just $13,303.
But while China and the US have consistently seen their quality of life rise since at least 1968, the UK has been in a nearly two-decade stint of stagnation.
Britain’s last peak was in 2007, just before the global financial crisis, when its GDP per capita was $50,629.
It was until 2024 when this was surpassed.
