China warns bankers of 'hedonistic' lifestyle

In China, the relevant regulatory agency has asked bankers to “put aside their hedonistic lifestyle” and “stop copying Western styles.” The latest in a series of micromanagement practices by Chinese authorities in the financial sector was a statement targeting bankers with lifestyle warnings. China’s anti-corruption monitoring committee said in a statement that it asked Chinese bankers to “tweak their mentality,” “put aside their hedonistic lifestyle,” and “stop copying Western styles.” The statement reinforces expectations that Chinese President Xi Jinping will further consolidate his power at the National People’s Congress this weekend. It is reported that Xi will revive an economic and financial policy committee equipped with strong powers at the congress and appoint people loyal to him to this committee.