Exploring the implementation of President Xi Jinping's common prosperity drive in 2021 and its impact on CICC, China's oldest investment bank, leading to cultural and structural shifts as bankers adapt to a new ethos and leadership style emphasizing state allegiance and loyalty to the party.
One after another, bankers at China International Capital Corporation — China’s premier investment bank – are pledging loyalty to the Communist Party, underscoring a new reality for Wall Street-style capitalists in the era of Xi Jinping.
Today on The Big Take Asia, host David Gura speaks with Bloomberg’s Cathy Chan about the tug-of-war between communism and capitalism at the “Morgan Stanley of China,” and how politics are redefining Chinese finance.
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