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Benzinga
Benzinga
Business
Wayne Duggan

Why Chinese, Hong Kong Stocks Are Tanking As Xi Jinping Consolidates Power

U.S.-listed Chinese stocks were crushed on Monday morning after the Chinese Communist Party concluded its national congress meeting over the weekend.

What Happened? Chinese leader Xi Jinping consolidated his control over China's Communist Party by appointing loyalists to the party's most powerful positions and shunning convention by maintaining his presidency for a third term.

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