China warns ‘hedonistic’ bankers to toe the line

Tough measures: The headquarters of China Renaissance in Beijing. Billionaire Bao’s disappearance sparked fears of a renewed crackdown on the nation’s financial services industry. — AFP

BEIJING: 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.