Xi Jinping has pursued a sweeping purge of senior People’s Liberation Army leaders since early 2026, removing Central Military Commission Vice Chairman Zhang Youxia, Joint Staff Department chief Liu Zhenli, and additional naval and rocket force officers on charges of corruption, factionalism, and political disloyalty. Official announcements frame the moves as enforcement of party discipline ahead of the October 2026 plenum on internal governance, while unverified reports of an aborted coup plot involving military figures circulated earlier in the year without confirmation. The resulting leadership vacuum at the CMC has left Xi and one other member in effective control, raising questions about operational experience and readiness for contingencies such as Taiwan planning. Traders monitoring this market focus on any new expulsions, public appearances by top generals, or shifts in official rhetoric that could signal further consolidation or internal friction.