It’s been a year of overwhelming change for China, and the fundamental shift in the relationship between the country’s government, businesses and citizens is a long way from complete.
Chinese President Xi Jinping’s push for "common prosperity” — aimed at narrowing the nation’s persistent wealth gap — underpins moves to limit the power of China’s technology giants, to cool ever-rising house prices, to encourage philanthropy and to embrace clean energy. The drive has dovetailed with a clampdown on the entertainment industry that has targeted livestreamers and actors over tax evasion, and placed "improper” celebrity culture under scrutiny.
The changes look set to last. A landmark historical resolution published in November — only the third of its sort in the Chinese Communist Party’s history — puts common prosperity at the heart of the government’s aims. The doctrine also sets up Xi, who is expected to secure a precedent-breaking third term at next year’s party congress, to potentially rule China for life.