Chinese authorities have intensified their crackdown on risky financial practices, targeting the shadow banking sector and specifically Zhongzhi Enterprise Group, a major player in this arena with involvement in China's $3 trillion shadow banking sector. Police said they had taken "criminal coercive measures" against company executives at Zhongzhi, with efforts to recover "stolen goods" underway. This action comes nearly eight years after China initiated a crackdown on risky practices by private insurers, leading to the downfall of conglomerates like Anbang. Despite these efforts, the dismantling of financial risks is far from complete. Police in Beijing are investigating the illegal incomes of major suspects in the criminal case involving Zhongzhi to recoup the billions of yuan in investor losses. In a related move to stabilize the financial sector, China has set higher standards for consumer finance companies and tightened regulations. Additionally, in a bid to attract foreign investment, which has fallen to record lows, China's State Council has announced an action plan to open up the Chinese market further. This includes reducing the negative list for foreign investment access, expanding the opening in telecommunications and healthcare sectors, and scrapping the negative list for manufacturing.