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China Insists Party Elites Shed Overseas Assets, Eyeing Western Sanctions on Russia

HONG KONG — The Chinese Communist Party will block promotions for senior cadres whose spouses or children hold substantial overseas assets, people familiar with the matter said, as Beijing seeks to insulate its top officials from the sanctions currently targeting Russia.

The ban, outlined in an internal announcement by the party’s powerful Central Organization Department, could play some role in the Chinese leader’s favor. Xi JinpingHis efforts to heighten his influence in the twice-decade-long leadership shuffle are scheduled for later this year.

https://www.wsj.com/articles/china-insists-party-elites-shed-overseas-assets-eyeing-western-sanctions-on-russia-11652956787 China Insists Party Elites Shed Overseas Assets, Eyeing Western Sanctions on Russia

Alley Einstein

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