President Xi Jinping is set to further tighten his control of China’s $61 trillion financial industry as he gathers state leaders and top bankers to set the direction over the next five years. Against a backdrop of record low margins for the banking industry and an anti-corruption crackdown that has ensnared more than 100 officials and executives this year, Xi will host the closed-door, twice-a-decade Financial Work Conference on Monday and Tuesday in Beijing. Xi, China’s most powerful leader since Mao Zedong, is expected to place the Communist Party’s “centralized and unified" leadership and increased scrutiny over the sector above...