Xi Jinping’s ongoing anti-corruption campaign within the People’s Liberation Army continues to drive trader attention toward potential further purges in 2026. Recent expulsions of senior Central Military Commission figures, including longtime ally Zhang Youxia and Joint Staff Department chief Liu Zhenli in September, followed months of investigations into corruption, disloyalty, and faction-building, leaving the CMC severely depleted. These moves align with broader efforts to enforce party discipline, eliminate self-serving cliques, and ensure absolute loyalty ahead of military modernization goals. The upcoming fifth plenum of the 20th Central Committee in late October is expected to address additional personnel changes, with reports indicating dozens of Central Committee members could face removal. Historical patterns show the campaign often targets both graft and political obstacles, sustaining uncertainty over which officials or sectors may next come under scrutiny.