China Warns ‘Hedonistic’ Bankers to Toe the Communist Party Line

Bankers in China are being told to rectify their mindsets, clean up their “hedonistic” lifestyles and stop copying Western ways.

The directives, part of a 3,500-word commentary last week from the country’s top anti-graft watchdog, are just the latest sign that President Xi Jinping’s campaign to tighten the Communist Party’s grip on the financial system has a long way to go.

As the National People’s Congress kicks off this weekend, Xi is poised to further entrench control by reviving a powerful committee to coordinate economic and financial policy and installing close allies to oversee it all.

That comes on the ...