Xi Jinping Intensifies Anti-Corruption Campaign, Targets 'Flies and Ants'

The Chinese President's renewed commitment to combating corruption puts vast sectors of the economy on notice, potentially impacting investor confidence and economic recovery.

Chinese President Xi Jinping has vowed to intensify his administration's anti-corruption campaign, targeting both minor and major offenders within various industries, including finance, energy, and infrastructure.
Xi described the offenders as 'flies and ants,' referring to small-scale corruption that is easier to conceal.
The anti-corruption campaign, which is Xi's signature project, has been sweeping across the Communist Party, government, military, and state-owned companies.
Xi's comments put vast swathes of the economy on notice for more turmoil ahead, potentially undermining his efforts to bolster investor confidence and arrest a growth slowdown.
About 4.8 million party officials in China have been investigated since 2012, according to the latest official figures from June 2022. Of those, more than 1.5 million have been handed punishments ranging from lengthy prison sentences to dismissal from official posts, demotion and expulsion from the party.

South China Morning Post