News Analysis The Chinese Communist Party (CCP) is launching investigations into the financial industry, triggered by a looming debt crisis and under the guise of anti-corruption. These investigations appear to be an indication that China is moving further from a market economy, while they also serve Xi Jinping’s personal goal of solidifying his power. China’s top anti-corruption agency is conducting an investigation into 25 financial institutions, examining ties between state-owned banks and big companies. In particular, Chinese regulators are scrutinizing the relationship that financial institutions have with high-profile companies with massive debt, like Evergrande, and those that have fallen out of favor with the CCP such as Ant Group. Along with intensifying the Party’s control over the financial industry, Xi is cracking down on tech companies and billionaires. Additionally, he is spearheading wealth redistribution and “common prosperity” programs, all of which seem to be part of a larger movement away …