China’s eighth round of the 19th central Committee inspections will carry out regular inspections of party organizations in 25 financial institutions

September 28, 2021

Photo from Chinanews.com

Xinhua News Agency reported on 27th evening that Zhao Leji stressed the need to closely follow the characteristics of different segments, units and levels of the financial industry, grasp commonalities and highlight personalities, find the outstanding problems of the inspected party committees (party groups) and enhance the scientific precision and effectiveness of the inspection.

The units to be inspected also include: State Administration of Foreign Exchange, China Investment Corporation, China Development Bank, Export-Import Bank of China, Agricultural Development Bank of China and Industrial and Commercial Bank of China Limited, Shanghai Stock Exchange, Shenzhen Stock Exchange, China Huarong Asset Management Company Limited, China Great Wall Asset Management Company Limited, China Eastern Asset Management Company Limited, China Cinda Asset Management Company Limited, etc.

In the run-up to the 20th CCP Committee, Xi Jinping felt tremendous pressure from China’s financial markets, and he wanted to tighten his grip on the moneybags and stabilize the economy. But opponents are bound to set off the mines in the financial markets and take the opportunity to bring Xi down.

Reference: https://www.reuters.com/article/中国中央第八轮巡视将对中国央行-银保监会等25家金融机构开展常规巡视-idCNL4S2QT069

(The article just present Author’s personal opinion)

Author : Himalaya Los Angeles Pangu Firm – Mike Li
Editor: Himalaya Los Angeles Pangu Firm – Little M
Release : Himalaya Los Angeles Pangu Firm – 彩虹Rainbow

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