Politics

Politics

China imposes sanctions on Western defense firms over US a…

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Politics

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  A recent survey conducted in wealthy nations has revealed a shift in favorability, with more positive views towards ...

Politics

Prime Minister of Australia describes his China visit as a…

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  Australian Prime Minister Anthony Albanese expressed optimism on Saturday regarding his long-anticipated journey to ...

Politics

U.S. and China Discuss Macroeconomic Developments in Virtu…

24-10-2023

Officials from the United States and China engaged in a productive and substantive two-hour virtual meeting to deliber...

Politics

Israel-Hamas conflict resonates in Asia: diplomat stabbed …

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  In the week since the Israel-Hamas conflict began, it has had significant reverberations across Asia, leaving an Isr...

 

 

In an effort to enhance economic contributions from state-owned enterprises and the financial sector, China has announced plans to escalate its anti-corruption initiatives.

A politburo meeting led by President Xi Jinping disclosed this decision, which follows recent investigations conducted by party inspection teams into numerous state-owned enterprises.

The official Xinhua report from the politburo meeting emphasized the need to "promote those who do not dare to, cannot and do not want to (engage in) corruption." It further stressed the importance of bolstering the core competitiveness of state-owned enterprises and increasing the commitment of financial institutions to serve the real economy and national strategy.

Recent events, such as the disappearance of former Foreign Minister Qin Gang and Defense Minister Li Shangfu, have raised concerns within the Chinese government. Typically, such disappearances precede announcements of investigations into disciplinary violations. However, Beijing has not clarified the circumstances surrounding Qin and Li's prolonged absence.

Qin Gang has been missing for three months, while Li Shangfu has not been seen in public for one month. Against the backdrop of mounting tensions related to Taiwan, the South China Sea, and U.S. export controls targeting the Chinese military and technology sector, President Xi's leadership has prioritized addressing national security risks within the Communist Party, government, and key industries.

The politburo emphasized the necessity of establishing a "mentality of red lines" and a willingness to take extreme measures to prevent and mitigate significant risks while firmly maintaining safety standards. Photo by Photographer: Dati Bendo, Wikimedia commons.