Xi Jinping Expands Anti-Corruption Campaign to Target Lower Officials, SOEs, Military
• Xi Jinping vowed to crack down on "flies and ants", targeting corruption by lower level officials and smaller scale graft that's easier to conceal
• The anti-corruption campaign will focus on power-concentrated, capital-intensive, and resource-rich sectors like finance, energy, and infrastructure
• State-owned enterprises and the pharmaceutical industry will also be targeted in the latest wave of the decade-long anti-corruption push
• Nine military figures were recently ousted from China's legislature, suggesting the campaign continues in the military
• Over 2023, more than a dozen top executives at major Chinese financial institutions have been investigated, including heads of Bank of China and China Life Insurance