The Chinese Communist Party (CCP) has been incorporating private entrepreneurs into its party-state since the early 2000s. The CCP has granted CCP memberships and legislative roles to private entrepreneurs. This authoritarian approach has caused uncertainty and anxiety among business owners. The crackdown has not only affected tech giants like Alibaba and Tencent but also academic tutoring firms, food delivery companies, and internet finance firms. Recent news suggests that the CCP’s stance towards private entrepreneurs remains unclear. The current crackdown on tech, platform economy, private education, real estate, and financial capital is aimed at expanding the Chinese middle class while reducing excessive incomes. However, this has made the position of big private companies in China less secure than ever before.
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