China’s Party Cadres Banned From Private Equity Investments
- Officials found to have made ‘huge gains’ from investing
- Xi’s anti-corruption campaign has rocked financial sector
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China’s millions of Communist Party cadres were warned to stay away from investing in private equity to avoid ownership situations that can breed corruption.
Such investing creates doubts about the integrity of officials and opens the door to the abuse of power for personal gains, an official publisher of the Central Commission for Discipline Inspection said in a recent article.