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China Aims for Financial Power Amid U.S. Competition

3/7/2026

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Story summary
  • China's policymakers push to reduce financial risks and curb political corruption ahead of the annual two sessions, aiming to position China as a financial superpower.
  • Xi Jinping says the financial sector should serve the people, contrasting it with systems that primarily benefit the wealthy.
  • The trend coincides with the U.S. stock market's rise, as U.S. President Donald Trump predicts further growth, highlighting U.S.-China competition in finance.