Xi’s planned revival of Chinese financial watchdog exerts more party control

BEIJING, March 1 (Reuters) – Plans by China’s Communist Party to revive a high-level economic watchdog after two decades signal President Xi Jinping push to increase oversight of the financial sector, analysts say, part of a wider tightening of control by Xi and the party. Xi, who secured a precedent-breaking third leadership term in October, is planning to resurrect the Central Financial Work Commission (CFWC), which will be directly under central party leadership, two people briefed on the matter told Reuters. A decision to revive the commission may be revealed following the annual gathering of the National People’s Congress (NPC),…