Chun Han Wong
WSJ, May 19, 2022
“China’s mounting tensions with the West have fueled concerns that any financial exposure that senior Chinese officials have overseas could be used as leverage against Beijing”
China’s Communist Party will block promotions for senior cadres whose spouses or children hold significant assets abroad, people familiar with the matter said, as Beijing seeks to insulate its top officials from the types of sanctions now being directed at Russia.
The ban, outlined in an internal notice by the party’s powerful Central Organization Department, could play a role in Chinese leader Xi Jinping’s efforts to increase his influence at a twice-a-decade leadership shuffle scheduled for later this year.
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