Other

Replacing Fang with an enforcer reflects the government’s current priorities. While China remains committed to attracting foreign capital and financial firms to its capital markets, its primary focus has shifted toward enhancing corporate governance and restoring public trust…

There were two major personnel changes in the financial sector last month. First, Guo Dayong, 49, recently assumed the role of deputy Party secretary at China UnionPay Company Ltd. (CUP)…

The creation of the CFDISWC indicates that the Party will maintain its high-pressure approach towards the financial sector, aiming to further institutionalize anti-corruption efforts. Wang Weidong, with his extensive inspection experience, is expected to…

The financial sector has faced increased scrutiny from the CCDI in recent years, with numerous executives from financial firms being investigated and charged for corruption. The Party seeks to tighten control over the sector to better allocate resources to national priorities and prevent corrupt or disloyal executives from misusing state assets…

China’s investment banks and security firms have already gone through a round of salary cuts amid diminishing IPO deals and underperforming secondary markets. Now, commercial banks are also joining in, driven by weak credit demand and declining lending rates, which have significantly squeezed their profits…

There were two notable personnel developments in June. First, on June 3, China’s sovereign wealth fund, China Investment Corporation Ltd. (CIC) appointed Chen Zhong as vice president and chief financial officer. Chen, 51, replaced Liu Haoling, who was promoted to CIC president in February…