Xi Jinping wants the private sector to thrive again

Successful stockpickers need a particular set of skills—the ability to parse financial statements, decipher corporate strategies and read the market’s mood. In China they must also interpret Xi Jinping’s state of mind. Five years ago regulators began a sweeping crackdown on tech that drove Jack Ma, the founder of Alibaba, from public life. It also erased some $2trn in market value, as foreign investors fled Chinese stocks and the country’s private entrepreneurs lost faith in the Communist Party’s commitment to their success.

This article appeared in the Leaders section of the print edition under the headline “Conditional love”

From the February 22nd 2025 edition

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