China clamps down on financial graft, quadrupling probes in 3 years

Xi leadership seeks to curb risks and strengthen Communist Party's hand

20231126N PBOC

Beijing has stepped up its anti-corruption campaign in the financial sector this year, including through an investigation targeting a former deputy governor at the People's Bank of China. © Kyodo

IORI KAWATE, Nikkei staff writer

BEIJING -- China's top leadership has moved to crack down on financial corruption, with investigations of senior officials at financial institutions and government oversight agencies increasing more than fourfold in three years.

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