China warns ‘hedonistic’ bankers to toe the Communist Party line

He Lifeng is being considered for the role of party secretary at the People’s Bank of China. - China Daily

BEIJING (Bloomberg): Bankers in China are being told to rectify their mindsets, clean up their "hedonistic” lifestyles and stop copying Western ways.

The directives, part of a 3,500-word commentary last week from the country’s top anti-graft watchdog, is just the latest sign that President Xi Jinping’s campaign to tighten the Communist Party’s grip on the financial system has a long way to go.