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Digital Subscriptions > China Report > Issue 49 > STRENGTHENED SCRUTINY

STRENGTHENED SCRUTINY

China’s top disciplinary watchdog launched an anti-graft campaign against regulators and company managers in the financial sector
Xiang Junbo
Photo by cfp

Financial Corruption

On May 5, 2017, the State Council, China’s cabinet, announced the removal of Xiang Junbo from the post of the chairman of China Insurance Regulatory Commission. Xiang is being investigated for alleged “serious violations of the Party’s code of conduct,” a euphemism for corruption, according to an early announcement made by the top anti-graft authority on April 9.

At the same time when the announcement was made on April 9, China’s official government website released the full text of Premier Li Keqiang’s speech delivered during the clean governance conference held on March 21 in which he vowed to strictly crack down on financial corruption. The pledge came as the world’s second largest economy continues to deepen reforms in pursuit of steady economic growth.

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About China Report

The Belt and Road forum held in Beijing in May heralds China's strategy of globalisation 2.0. How much China has invested in the BRI? How can other countries along the routes join in and benefit from the opportunities? (p.20-25) Technologically China has often been perceived as playing the catch-up game. Not in Artificial Intelligence, which the country's tech giants are spearheading with some success. (p. 34-43) A migrant worker has taken the country by storm in her Dickensian essay about her hard life in modern Beijing. (p.52-55)
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