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 signaled 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.
China will strive to complete major economic and social development targets set for this year, the People’s Daily said on its front page Thursday, citing President Xi Jinping. Xi made the comments during his visit to the northern province of Hebei.