Two Strong Hands – The Wire China

Over the past two years, China has cracked down on some of its most successful companies, including Alibaba, Tencent, Didi and Meituan-Dianping. Beginning in 2018, authorities also restructured many of China’s largest conglomerates such as Wanda and Evergrande Groups. The conclusion many have drawn is that China’s decades-long embrace of markets and private enterprise is coming to an end. Yet over the same period, China has also quietly enacted a slew of pro-business reforms aimed at cutting red tape for small and medium-sized enterprises, making it easier for them to raise capital, and facilitating their access to finance. country market. legal dispute resolution processes. This apparent contradiction in China’s policy orientation – a continued crackdown on China’s largest corporations combined with strong support for smaller private companies – actually reflects the Communist Party’s dual goals: to retain full control while allowing the private sector of