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    Global Banking & Finance Review® is a leading financial portal and online magazine offering News, Analysis, Opinion, Reviews, Interviews & Videos from the world of Banking, Finance, Business, Trading, Technology, Investing, Brokerage, Foreign Exchange, Tax & Legal, Islamic Finance, Asset & Wealth Management.
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    Editorial & Advertiser disclosure

    Global Banking and Finance Review is an online platform offering news, analysis, and opinion on the latest trends, developments, and innovations in the banking and finance industry worldwide. The platform covers a diverse range of topics, including banking, insurance, investment, wealth management, fintech, and regulatory issues. The website publishes news, press releases, opinion and advertorials on various financial organizations, products and services which are commissioned from various Companies, Organizations, PR agencies, Bloggers etc. These commissioned articles are commercial in nature. This is not to be considered as financial advice and should be considered only for information purposes. It does not reflect the views or opinion of our website and is not to be considered an endorsement or a recommendation. We cannot guarantee the accuracy or applicability of any information provided with respect to your individual or personal circumstances. Please seek Professional advice from a qualified professional before making any financial decisions. We link to various third-party websites, affiliate sales networks, and to our advertising partners websites. When you view or click on certain links available on our articles, our partners may compensate us for displaying the content to you or make a purchase or fill a form. This will not incur any additional charges to you. To make things simpler for you to identity or distinguish advertised or sponsored articles or links, you may consider all articles or links hosted on our site as a commercial article placement. We will not be responsible for any loss you may suffer as a result of any omission or inaccuracy on the website.

    Top Stories

    Posted By maria gbaf

    Posted on August 31, 2021

    Featured image for article about Top Stories

    SHANGHAI (Reuters) – China’s crackdown on celebrity culture and its moves to rein in giant internet firms are a sign of “profound” political changes under way in the country, a prominent blogger said in a post widely circulated across state media.

    The Chinese government has recently taken action against what it has described as “chaotic” online fan club culture, and has also punished celebrities for tax evasion and other offences.

    In a wide-ranging series of interventions in the economy, it has also promised to tackle inequality, “excessively high” incomes, soaring property prices and profit-seeking education institutions.

    “This is a transformation from the capital at the centre to people at the centre,” nationalist author Li Guangman wrote in an essay originally posted on his official Wechat channel.

    “This is also a return to the original intentions of the Chinese Communist Party … a return to the essence of socialism,” he wrote in an article that was republished by the Xinhua news agency and the Communist Party’s official newspaper, the People’s Daily.

    Li, identified as a former editor at a state-run publication, said China’s markets would “no longer be a paradise allowing capitalists to get rich overnight”, adding that culture would not be a haven for celebrities and public opinion would “no longer be a place to worship Western culture”.

    “Therefore, we need to control all the cultural chaos and build a lively, healthy, masculine, strong and people-oriented culture,” he wrote.

    Since coming to power in 2012, Chinese President Xi Jinping has sought to enhance the role of the ruling Communist Party in all areas of society, including its businesses, schools and cultural institutions.

    In a speech marking the centenary of the Party in July, Xi vowed to “enhance” the Party’s powers, uphold his own “core” leadership and strengthen the unity of the Chinese people.

    (Reporting by David Stanway. Editing by Gerry Doyle)

    SHANGHAI (Reuters) – China’s crackdown on celebrity culture and its moves to rein in giant internet firms are a sign of “profound” political changes under way in the country, a prominent blogger said in a post widely circulated across state media.

    The Chinese government has recently taken action against what it has described as “chaotic” online fan club culture, and has also punished celebrities for tax evasion and other offences.

    In a wide-ranging series of interventions in the economy, it has also promised to tackle inequality, “excessively high” incomes, soaring property prices and profit-seeking education institutions.

    “This is a transformation from the capital at the centre to people at the centre,” nationalist author Li Guangman wrote in an essay originally posted on his official Wechat channel.

    “This is also a return to the original intentions of the Chinese Communist Party … a return to the essence of socialism,” he wrote in an article that was republished by the Xinhua news agency and the Communist Party’s official newspaper, the People’s Daily.

    Li, identified as a former editor at a state-run publication, said China’s markets would “no longer be a paradise allowing capitalists to get rich overnight”, adding that culture would not be a haven for celebrities and public opinion would “no longer be a place to worship Western culture”.

    “Therefore, we need to control all the cultural chaos and build a lively, healthy, masculine, strong and people-oriented culture,” he wrote.

    Since coming to power in 2012, Chinese President Xi Jinping has sought to enhance the role of the ruling Communist Party in all areas of society, including its businesses, schools and cultural institutions.

    In a speech marking the centenary of the Party in July, Xi vowed to “enhance” the Party’s powers, uphold his own “core” leadership and strengthen the unity of the Chinese people.

    (Reporting by David Stanway. Editing by Gerry Doyle)

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