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3Novices:First the ‘guns’, then the ‘knives’ … now Xi goes after the ‘money bags’ in China’s financial industry

A storm is brewing in China’s financial industry as President Xi Jinping seeks to stem collusion among senior regulators, ruling elite family members and private tycoons ahead of a key Communist Party meeting later this year.
Alarmed by a stock market rout in 2015, Xi is loudly beating the anti-graft drum in the financial world, where shady money-for-power deals have been rampant. Xi is also alert to financial risks that have the potential to roil markets, hurt growth and ­endanger…
April 19, 2017 at 09:01PM http://ift.tt/2o3LVq1
#3Novices #News #OnlineMedia #China 3Novices China

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