Chinese Communist enterprises have serious agency problems, including financial reporting and compensation of management. Ministry of Finance of People's Republic of China made misleading Accounting Standards that worsen the corporate governance. It limited definition of related party. Bank of China and many other Chinese state banks failed to disclose material related transactions with Chinese governments. It's urgent to remove Beijing from IFRS Board.
The targets to be sanctioned mentioned in Section 8 of Uyghur Forced Labor Prevention Act include those who provide support for forced labor in Xinjiang, which includes financial support. All financial institutions that provide credit to companies involved in forced labor in Xinjiang should be sanctioned.
CCP's banks have opened branches around the world to absorb deposits and issue bonds, and then participate in the investment in the bonds and treasury bonds of Xinjiang genocide-related companies through the Chinese inter-bank bond market, and funds flow from abroad to genocide companies in Xinjiang.

This book explores the misstatements arising from failed corporate governance. It introduces  the accounting fraud of Chinese biggest companies, including shareholder of largest banks.