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Beijing warns party officials off PE in anti-graft move


The Chinese government has reportedly cautioned Communist Party officials against private equity investments to prevent corruption, as stated in a publication by China's top anti-corruption body, the Central Commission for Discipline Inspection (CCDI). This alert is said to be part of a broader anti-corruption drive, noting instances where officials exploited insider information for personal gain, especially through Initial Public Offerings (IPOs). Additionally, officials have reportedly provided financial backing to covertly owned firms, creating avenues for bribery. The intensifying crackdown has recently led to the arrests of high-profile figures, including the former chairmen of the Bank of China and Everbright Group, signalling the campaign's expansion into the financial sector.

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