China Detains Investment Bankers, Takes Passports in Corruption Sweep

China detains investment bankers and takes passports in corruption sweep

The moves are part of measures under President Xi Jinping’s years-long common prosperity campaign. Read more at straitstimes.com.

China Detains Investment Bankers, Takes Passports in Corruption Sweep

China is turning up the heat on its army of 8,700 investment bankers.

China detains 8,700 investment bankers, takes passports in corruption sweep

China's investment banking sector faces intense scrutiny as authorities detain top bankers amid President Xi Jinping's common prosperity campaign. Major firms like Haitong Securities are tightening travel restrictions and passport controls for employees. Regulatory probes are impacting the $1.7 trillion brokerage industry, raising concerns about its future while consolidations and pay cuts continue.