BEIJING, Oct 12 — China’s ruling Community Party turned its sights on the country’s vast financial sector this month, kicking off a new round of a years-long campaign to uncover corruption and illegal dealings.
CCDI inspectors will be looking for any violation of political discipline — a Party euphemism for corruption. The campaign has been focused on preventing “savage growth” of some platform companies in a bid to deal with their monopolistic and unfair competition behaviours. When the sector was last inspected in 2015, at least a few hundred bankers and executives were censured and even fired. Offences included organising prohibited internal banquets and accepting holidays from clients.
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