China Launches Financial Industry Overhaul Aimed at Asserting Party Control

China initiating new inspections on regulators and major state-owned banks as part of financial industry overhaul

Inspections part of Xi Jinping's vision to mold China's financial market into a "financial superpower"

Focus on aligning financial industry with Communist Party priorities rather than profits

Stricter oversight and penetration of party committees into banks and financial firms

High-pressure anti-corruption campaigns to target graft and risks in financial sector