Recently, in an in-house forum, ANBOUND's chief researcher, Cheng Gong says that the crackdown on China’s financial sector has already begun.

The crackdowns focus mainly on the following sectors: -

(i)underground banks;

(ii)the 'improper transfer of benefits’ related to the financial corruption;

(iii)Internet finance sector; and

(iv)illegal private fund

The crackdown on financial sector reflects the changes in the policy thinking of the financial regulatory authority.

This shift means that a variety of financial fraud and inappropriate behavior will face a crackdown.

In the future, more financial scandals will be revealed, implicating the players in financial sectors.

The entire financial market will have to go through a rather long period of combating corruption.