Chinese Authorities Investigate Finance Industry Corruption to Minimize Risk

China’s financial regulators and state-dominated financial industry are facing a new round of party discipline, which will have major implications on the income prospects of state-owned enterprises, the country’s de-risking efforts and funding for businesses.
Finance is among China’s most profitable sectors, with the combined profits of China’s six largest state-owned banks rising 6 per cent year on year to 1.36 trillion yuan (US$197.8 billion) in 2022. But the sector’s high exposure to property developers and local financing vehicles show they are prone to big risks, which regulators are keen to get on top of.

Source : Chinese Authorities Investigate Finance Industry Corruption to Minimize Risk