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China consolidates financial oversight under Communist Party control.

1 min read
Source: CNBC
China consolidates financial oversight under Communist Party control.
Photo: CNBC
TL;DR

The Chinese Communist Party is establishing new commissions to oversee finance and tech, with a new "Central Financial Commission" set to strengthen the party's "centralized and unified leadership over financial work." The changes come as Chinese President Xi Jinping sees unity under the party as essential for building up the country. The new commissions are part of the party's central committee, which has about 200 members, and are set to take effect at a national level by the end of this year.

Topics:businesspolitics#china#communist-party#financial-oversight#politics#state-council#xi-jinping
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  1. China revives ruling party control of financial oversight  CNBC
  2. Xi Jinping tightens party control of China's government  Financial Times
  3. China to create powerful financial watchdog run by Communist Party  Reuters
  4. China releases plan for reforming Party and state institutions  CGTN
  5. Why US is a factor in Xi Jinping’s Communist Party restructuring plans  South China Morning Post

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