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Top leaders from the ruling Communist Party on Wednesday laid out a blueprint for how they plan to continue tightening the regulatory screws on companies over the next five years.
The country’s latest five-year plan includes promises to strengthen rules that would clamp down on monopolistic behavior and regulate technological innovation. Authorities also called on “law enforcement” to take action in areas of “vital interests of people,” including financial services, education and tutoring.
The policy map — jointly released by the Party’s central committee and the State Council — was vague on the specific actions that authorities want regulators to take.
But it suggests Beijing’s unprecedented crackdown on private enterprise, which began late last year, could last for some time. China’s five-year plans are the cornerstone of economic and social policy in the country, and the latest plan runs through 2025.
“The people’s growing need for a better life has put forward new and higher…
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