CHINA: A different kind of Partying for HSBC bankers bankers

The Financial Times reports that HSBC has established a Party committee in its China investment bank entity. 

I am not sure why anyone would be surprised by this. The Party leads everything in the Xi Era and one of his initiatives has been to reinsert the Party into almost every entity of any size in the country. 

What is more interesting is what this means for other Western banks operating in the country, as overt Party cells in banks like JP Morgan and Goldman Sachs may cause them some headaches in their home market.

Fonte: 

Bill Bishop at "Sinocism"