June 13, 2024

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Xi Seen Tightening Grip on Finance at Twice-a-Decade Conference

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President Xi Jinping is set to further tighten his control of China’s $61 trillion financial industry as he gathers state leaders and top bankers to set the direction over the next five years.

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(Bloomberg) — President Xi Jinping is set to further tighten his control of China’s $61 trillion financial industry as he gathers state leaders and top bankers to set the direction over the next five years.

Against a backdrop of record low margins for the banking industry and an anti-corruption crackdown that has ensnared more than 100 officials and executives this year, Xi will host the closed-door, twice-a-decade Financial Work Conference on Monday and Tuesday in Beijing.

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Bloomberg News

2023-10-29 19:39:37

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