Chinese government bankers and financers warned on extravagant and lavish expenditures

Thursday, November 22nd 2012 - 20:51 UTC

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China will ban executives from state-owned banks and financial companies from spending extravagantly on cars and houses, according to the state news agency Xinhua. The 12 regulations, issued jointly by the Ministry of Finance, the Ministry of Supervision and the National Audit Office, come after Communist Party chief Xi Jinping warned that the party risks major unrest and the collapse of its rule if corruption is allowed to run wild in China. Read full article

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willi1
all normal chinese people including the governmental are still on a “freed slave” level. everyone tries to get as much as possible as soon as possible, no matter if something or someone will be harmed besides him. they don´t trust their government that the situation is sustained. everything can change from today to tomorrow. the tiananmen square is still in everyone´s remembrance.
that is why the corruption is even higher than in argentina.
Nov 23rd, 2012 - 05:26 pm - Link - Report abuse 0
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British_Kirchnerist
Seems like a good and astute move, enlightened self interest really for the CCP...
Nov 24th, 2012 - 12:00 am - Link - Report abuse 0
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