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China Removes Top Regulator on Anti-Corruption Charges

A powerful regulator with strong ties to China’s state-owned oil companies has been removed from his post as Beijing moves to expand its anti-corruption drive.
Chinese state media reported Tuesday that Jiang Jiemin, head of the government’s State-owned Assets Supervision and Administration Commission, was fired for “suspected serious disciplinary violations.”

While the government did not provide more details about the “disciplinary violations,” the phrase is often used as shorthand to describe corruption.
Jiang, who previously ran state oil company China National Petroleum Corp., had enormous control over China’s state-owned firms, and he is the most notable casualty yet in a crackdown that could have economic implications should it intensify further.

via CNN [1]

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Alfonso Esparza

Alfonso Esparza [6]

Senior Currency Analyst at Market Pulse [7]
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza
Alfonso Esparza

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