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International

China’s financial sector reeling from corruption probes

April 11, 2023 Reprints

New corruption probes and an increase in surprise audits of venture funds have rocked China’s financial sector, with banks making deep cuts to executive pay and bonuses as high-ranking officials come under scrutiny, Financial Times reported. The country’s Central Commission for Discipline Inspection started a drive to fight misconduct. The commission has investigated or penalized more than a dozen executives since February.

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China’s financial sector reeling from corruption probes

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