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China’s regulatory crackdown is already hurting the economy

Bloomberg
Bloomberg8/26/2021 12:52 PM GMT+08  • 5 min read
China’s regulatory crackdown is already hurting the economy
Beijing has signalled there’s more regulation for businesses in years to come
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China’s campaign to clamp down on industries ranging from steel to education to property has roiled financial markets and curbed the outlook for growth in the world’s second-largest economy.

Beijing has signalled there’s more regulation for businesses in years to come, but economists say authorities will need to carefully manage the pace and intensity of that against an economy weakening faster than expected this year following fresh virus outbreaks in the country.

President Xi Jinping said China will strive to complete major economic and social development targets set for this year, while maintaining strict virus controls, the People’s Daily said on its front page Thursday. He made the comments during a visit to the northern province of Hebei.

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