Anti-Corruption

• I saw a report on Douyin about an anti-corruption investigation in the Zhejiang financial sector. I had written about the prelude to financial corruption once before, but didn’t follow up on related reports afterward.
• I still check financial news every day, and previously I rarely saw any reports about financial corruption. However, there have been increasing reports of financial corruption over the past two years, with more and more senior executives from banks, securities firms, and other financial institutions being investigated. Financial Anti-Corruption Curtain Rise

The Central Committee of the Communist Party of China: will intensify anti-corruption efforts in state-owned enterprises and the financial sector, and thoroughly rectify “the four prevailing tendencies.”

Communist Party of China Central Politburo

The Political Bureau of the Central Committee of the Communist Party of China held a meeting on September 27, reviewing the Comprehensive Report on the First Round Supervision of the First Session of the Twentieth Party Congress. Xi Jinping, General Secretary of the Communist Party of China, chaired the meeting. The meeting emphasized that the supervision and oversight work should be used as an opportunity to further strengthen the leadership of the Communist Party in all aspects, urging supervised party organizations to raise their political stance, conscientiously fulfill the responsibilities and missions assigned by the Central Committee, continuously enhance the core functions and competitiveness of state-owned enterprises, consolidate the important material and political foundations of socialism with Chinese characteristics, intensify financial institutions’ service to the real economy and national strategies, and promote high-quality development. It was stressed to coordinate development and security, firmly establish bottom-line and limit thinking, adopt effective measures to prevent and mitigate major risks, and safeguard the safety line. It was also necessary to advance comprehensive Party self-discipline to greater depths, consolidate the responsibility of the secretary of the党委 (party committee) as the first person, strengthen the responsibilities of leadership committees members “dual duties in one position,” and enhance the supervision responsibilities of disciplinary and supervisory organizations, highlight strengthening supervision of all levels’ “one leader”, intensify anti-corruption efforts in state-owned enterprises and financial sectors, deeply rectify “four prevailing styles,” deepen reform, improve systems, promote source governance, and facilitate treatment of problems comprehensively. (Xinhua)