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Chinese markets are struggling, and the Communist Party blames the bankers. It has asked them to abandon their “hedonistic” lifestyle and regulators have taken steps to limit transactions they deem “ill-intentioned. “Today, Chinese bankers are facing new demands. : expanding a “financial culture with Chinese characteristics”.
David Rennie, The Economist’s Beijing bureau chief, and Alice Su, our senior China correspondent, examine these new directives and ask: what is Xi Jinping’s vision for finance with Chinese characteristics? And where does that idea come from?
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