Private sector companies in China (including Tencent, above) are facing crackdowns, regulatory discrimination and a lack of financing, while SOEs are thriving. Photo: Gcmt/ Imaginechina via AFP
Private sector companies in China (including Tencent, above) are facing crackdowns, regulatory discrimination and a lack of financing, while SOEs are thriving. Photo: Gcmt/ Imaginechina via AFP

China’s private sector struggling with ‘common prosperity’, Covid-19 and financing; SOEs thrive

  • China’s private sector contributes more than half of the country’s tax revenue and GDP, yet it is bearing the brunt of economic pressure
  • Crackdowns on tech giants and private tutoring, and Covid-19 restrictions on tourism and catering have all taken a toll

Private sector companies in China (including Tencent, above) are facing crackdowns, regulatory discrimination and a lack of financing, while SOEs are thriving. Photo: Gcmt/ Imaginechina via AFP
Private sector companies in China (including Tencent, above) are facing crackdowns, regulatory discrimination and a lack of financing, while SOEs are thriving. Photo: Gcmt/ Imaginechina via AFP
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