Ejecting hundreds of bankers, China’s anti-graft sweep signals a high-stakes reboot of lenders buckling under bad property loans and trillions of local debt.
A pedestrian walks past the People’s Bank of China, also known as China’s Central Bank in Beijing, on Aug. 22, 2007. Teh Eng Koon/AFP via Getty Images
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News Analysis
A nearly three-year running anti-corruption drive has swept through every corner of China’s finance sector, toppling hundreds of mid- and high-level banking officials—from vice-ministerial figures at Beijing headquarters to branch managers in remote counties.
