China Starts Inspections of Financial Regulators, Largest Banks

China kicked off new anti-graft inspections of some of its largest state lenders, the central bank and key regulators, the first broad probe since a round in 2021 that sent shock-waves through the industry.

The Ministry of Finance, the National Financial Regulatory Administration and the China Securities Regulatory Commission will be targets in the on-site checks by the nation’s anti-corruption authorities, broadcaster China Central Television reported late Tuesday.

China’s biggest state-owned lenders, led by Industrial & Commercial Bank of China Ltd., as well as the main bourses in Shanghai and Shenzhen will also be inspected, according to the report. ...