China’s anti-corruption campaign in the financial sector may not immediately boost confidence given the prevailing uncertainties, an analyst has warned.
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However, it is believed that over time the drive could put the country on a cleaner governance path and help to attract overseas investors.
Beijing’s intensified anti-corruption drive has seen high-profile figures like Yi Huiman, the former head of China’s securities watchdog, placed under investigation.
He is being investigated by the Communist Party’s disciplinary unit as Beijing’s long-standing campaign extends from banking to the stock market.
Alfred Wu, an associate professor at the National University of Singapore’s Lee Kuan Yew School of Public Policy, said the move catered to the “clean government” demand from international institutions and corporations entering a foreign market.
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