News Analysis Nearly 100 high-level Chinese officials in the financial sector have been investigated since the beginning of this year, ranging from banks, insurance companies, asset management companies, and financial regulatory agencies. The scope is unprecedented as previous disciplinary campaigns in China mostly targeted a small number of officials who were found suspicious. This aggressive new campaign is an indication that Chinese leader Xi Jinping has had great difficulties controlling the Chinese financial sector ever since taking power in 2012, according to a Chinese financial analyst. Jiang Zemin and Zeng Qinghong Mike Sun, a U.S.-based Chinese investment strategist, previously told the Chinese edition of The Epoch Times that China’s financial sector has long been controlled by a political faction opposing Xi—a faction led by former Chinese leaders Jiang Zemin and Zeng Qinghong. Jiang won Deng Xiaoping’s favor during the 1989 Tiananmen Square Massacre as he supported Deng’s decision to open …