based BBC article
The Chinese government has unveiled a five-year plan outlining tighter regulation of much of its economy.
It says new rules will be introduced covering areas including national security, technology and monopolies in the world's second largest economy.
The plan comes soon after Beijing started targeting the technology and education industries.
The document references Chairman Mao as China celebrates the 100th anniversary of the nation's Communist Party.
The 10-point plan, which runs to the end of 2025, was released jointly late on Wednesday by China's State Council and the Communist Party's Central Committee.
It said laws will be strengthened for "important fields" such as science and technological innovation, culture and education.
The plan also said the Chinese government aims to tackle monopolies and "foreign-related rule of law".
Regulations relating to China's digital economy, including "internet finance, artificial intelligence, big data, cloud computing etc." will also be reviewed.
The announcement raised fresh concerns that Beijing's crackdown on technology and private education companies is set to continue and expand in years to come.
Shares in many Chinese companies listed in the US, Hong Kong and mainland China have fallen sharply this year as investors' concerns grow over the crackdown.
Beijing has already launched anti-monopoly investigations into some of the country's biggest technology firms and taken action against a wide range of other businesses.
In April, technology giant Alibaba accepted a record $2.8bn (£2bn) fine after an investigation found that it had abused its dominant market position for years.
Last month, Tencent was told to end exclusive music licensing deals with record labels around the world.
Also in July, some of the country's biggest online platforms - Kuaishou, Tencent's messaging tool QQ, Alibaba's Taobao and Weibo - were ordered to remove inappropriate child-related content.
This week, Chinese authorities said they had increased their scrutiny of after-school tuition services offered by individual teachers.
During a recent inspection, one person and six institutions were punished for offering unlicensed after-school tutoring that broke regulations, the Beijing Municipal Education Commission said in a statement Monday.
The move came as tutoring firms had changed how they operated after a government crackdown on the industry.
Last month, Beijing unveiled a massive overhaul of China's $120bn private tutoring sector, under which all institutions offering tuition on school curricula will be registered as non-profit organisations.
The new rules said: "Curriculum subject-tutoring institutions are not allowed to go public for financing; listed companies should not invest in the institutions, and foreign capital is barred from such institutions."
Meanwhile, this week China's banking and insurance watchdog stepped up its regulation of online insurance companies, according to the Caixin news agency.
The China Banking and Insurance Regulatory Commission ordered the firms to stop improper marketing and pricing or face "severe punishment."
I’m enjoying watching the communism dial slowly being cranked further.
:xi-lib-tears:
"The document references Chairman Mao as China celebrates the 100th anniversary of the nation’s Communist Party."
Like that's a bad thing
:mao-shining:
You don't even have to go back to "the founding fathers", a brutal madman like Reagan is celebrated as a demigod.
I was trying to find an appropriate communism button emoji, but amazingly, we don't have one.
See, I almost used this and made THAT exact joke too.
Fuck. I just gotta go for it.
And I would have gotten away with if it weren't for these meddling geese.
The real communism button was the comrades we made along the way
Xi is seductively tracing his finger around the communism button
Where you at anti-china trolls let's hear those hot takes
Might I interest you in taking a stroll through :reddit-logo: left-wing subs?
No, on second thought, let's not. T'is a silly place.
honest question, is this place still a left-unity DMZ or w/e? as a non-terrestrial leftist I have no preference, just curious.
By some of the post I've seen on the front-page I'm beginning to question this as well. I don't even have a strong opinion on China either way lol
Here's my hot take: a couple business crackdowns is hardly pushing the communist button/dial or whatever. Nothing against China, but it's going to take a lot of work still from this point.
People in this thread are ecstatic because we can't even imagine our own governments doing half this.
yeah its definitely helped by the fact that I'm somewhat starved of government regulation so anything seems good to me
but I agree its still going to take a lot of work to fully progress into true socialism.
Substitute business with uyghurs and this becomes very problematic :very-intelligent:
Trust busting is great but if that is pressing the communist button then the US would have ushered into communism under Teddy Roosevelt.
Country got a 4,000 year history and all this in one lifetime isn't fast enough for you?
Some millenniums nothing happens, some head of state’s lifetimes millenniums happen
It's wild how in the US there's much groupthink about how "central planning bad", where the implication and result is that there should be no planning at all, which of course benefits corporations who practice central planning anyway to the benefit of their shareholders.
Why would you get banned for supporting central planning? Anyone with historical literacy and an understanding of modern computing power* should be able to see the clear benefit of planning.
*just because I’m sure someone will read this and not get what I’m saying, matrix multiplication over very large sparse matrices (think: input/output tables for economies) was proven tractable in the early 1990s, and simulated economic plans for complex economies are routinely done this way in a few minutes on a modern workstation.
The China Banking and Insurance Regulatory Commission ordered the firms to stop improper marketing and pricing or face “severe punishment.”
Firing squad go bang.
I love this. They pulled the communism button out of the protective glass it was placed in under Deng, now they just keep mashing that little fucker.
:bloomer:
The announcement raised fresh concerns that Beijing’s crackdown on technology and private education companies is set to continue and expand in years to come.
"Fresh concerns", "crackdown".
