In a speech to the Central Committee for Financial and Economic Affairs last month, Chinese President Xi Jinping called for greater emphasis on “common prosperity” and the need to “regulate excessively high incomes” and “encourage high-income people and enterprises to return more to society.”
The remarks came in the wake of moves by the Chinese Communist Party (CCP) regime to rein in huge privately-owned corporations, including the tech giants Tencent and Alibaba, food delivery company Meituan, internet ride-hailing company Didi and online education companies TAL Education, New Oriental and Gaotu Techedu.
Continue reading Here