China consolidates financial oversight under Communist Party control.
TL;DR Summary
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.
- China revives ruling party control of financial oversight CNBC
- Xi Jinping tightens party control of China's government Financial Times
- China to create powerful financial watchdog run by Communist Party Reuters
- China releases plan for reforming Party and state institutions CGTN
- Why US is a factor in Xi Jinping’s Communist Party restructuring plans South China Morning Post
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