Xi Admits Corruption In China Is Severe And Complicated

Despite progress in the fight against graft, Chinese President Xi Jinping stated that corruption in the country remains severe and complicated, John Liu, Sarah Chen, Luz Ding and Jing Li reported for Bloomberg.

Photo Insert: Xi promised zero tolerance for corruption and instructed senior government officials to keep themselves, their families, and relatives in check.

According to CCTV, Xi stated that the "stubbornness and danger" of corruption cannot be underestimated. On Friday, June 17, he spoke at a group study session of the CPC Central Committee's Political Bureau.

Xi promised zero tolerance for corruption and instructed senior government officials to keep themselves, their families, and relatives in check. He urged senior officials to maintain a moderate and clean relationship between the government and the business community.

According to the official Xinhua News Agency, China's Politburo declared its anti-corruption dragnet of financial institutions a success on Friday, a potential sign of relief for the $59-trillion sector.

The Politburo stated that the Central Commission for Discipline Inspection's investigations had helped strengthen the party's leadership over the financial sector and prevented risks.

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