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Xi’s Crackdown on China’s Financial Sector Reveals His Political Predicament

Xi’s Crackdown on China’s Financial Sector Reveals His Political Predicament
Chinese President Xi Jinping (R) arrives with Premier Li Keqiang (L) and members of the Politburo Standing Committee for a reception at the Great Hall of the People in Beijing, on Sept. 30, 2021. Greg Baker/AFP via Getty Images
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News Analysis

Nearly 100 high-level Chinese officials in the financial sector have been investigated since the beginning of this year, ranging from banks, insurance companies, asset management companies, and financial regulatory agencies. The scope is unprecedented as previous disciplinary campaigns in China mostly targeted a small number of officials who were found suspicious.