Two meetings occurred on 11 December 2020 in Beijing. The first was the Politburo made up of 25 most senior officials of the Party and the second, in the afternoon, was the same 25 officials engaged in a study session.
The Politburo meeting called for “strengthened antitrust efforts and the prevention of disorderly expansion of capital”. At the study session, Xi Jinping stressed the need for “national security…political security…and the security of state power and the political system”.
These key phrases will be high on the agenda of the Party’s upcoming Central Economic Work Conference which sets the direction of 2021 economic priorities. This is part of the long running debate over how private companies should be treated in the socialist market economy.
Seen in perspective – so important in understanding China – these initiatives stem from Deng Hsaioping’s determination to save the Chinese economy after the chaos of the Cultural Revolution. Prosperity and Stability always.