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It’s widely known that China’s government exerts strong control over state-owned enterprises. What’s less known is that the Chinese Communist Party (CCP) has vastly increased its influence over privately owned companies since President Xi Jinping came to power in 2012.
The new form of state capitalism is so different from the old one that it needs a new nickname, Jude Blanchette, who holds the Freeman chair in China studies at the Center for Strategic and International Studies, writes in an article appearing in the winter 2020 issue of China Leadership Monitor. Instead of “China Inc.,” he dubs it “CCP Inc.”