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China Starts Inspection of Financial Regulators, State Banks

  • Corruption watchdog to check 25 major financial organizations
  • Ruling Communist Party has been taking tough stance on graft
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China is inspecting the nation’s financial regulators, biggest state-run banks, insurers and bad-debt managers for the first time in six years to root out corruption in its $54 trillion financial system.

A team led by the Central Commission for Discipline Inspection will start a two-month anti-graft check of the China Banking and Insurance Regulatory Commission, and accept complaint reports from whistleblowers until Dec. 15, according to a statement late Monday.