China recently concluded the Central Economic Work Conference. The highest-level meeting discusses the economic outlook, government priorities, the current year’s performance, and next year’s roadmap.

It said, “We will encourage and support the growth of private economy and private enterprises both with policy and in terms of social consensus.”

It also requires officials at all levels to “concretely help private companies deal with difficulties.”

Meanwhile, Liu’s article mentioned the need to “promote state-owned capital and state-owned enterprises to become stronger, better and bigger.”

Xie commented that the “common prosperity” policy is deeply rooted in the CCP’s blood. He believes that the term means communism. But the wealth is not meant for everyone, but only for the upper cadres of the CCP.

Xie claimed that every time the CCP calls for common prosperity, it needs money and will steal from whoever it targets.

The CCP will go for it because it needs money to support various forces, including police, civil servants, and many others.

Xie also explained that the CCP has to change its attitude because it’s currently facing a big dilemma. The country’s economy is verging on collapse while authorities at all levels suffer from a financial and economic downturn.

In addition, last month, the CCP already witnessed nationwide protests against its stringent “zero-COVID” measures. Chinese citizens’ “white paper revolution” broke out in many provinces and demanded Chinese leader Xi Jinping’s resignation.

Li Hengqing, a U.S.-based economist, told Da Ji Yuan that Beijing will likely fail to achieve its goals this time as its pledged support cannot revive business confidence like before.

Commentator Cai Shenkun tweeted on December 19 that if the CCP wants to show support for private businesses, it should quickly release Sun Dawu, along with returning Dawu Group to his family. It would be the best way to show how to correct its mistakes.

VOA reported that the CCP sent Sun and over 20 family members to jail last November. The Gaobeidian People’s Court sentenced Sun to 18 years in prison and fined his Hebei Dawu Agriculture and Animal Husbandry Group about $445,000 (3.11 million yuan) for eight counts, including “provoking quarrels and disrupting production.”

Not only that, but the CCP also put Dawu group up for auction at prices as low as $98.2 million (686 million yuan).

But Sun’s tangible and intangible assets totaled up to $2.16 billion (15.1 billion yuan).

Jack Ma’s Alibaba is another telling case of how the CCP treats private companies.

Ma was once the wealthiest and most influential tech leader in China. But, over the last few years, he has shunned the limelight after resigning as chair of Alibaba in September 2019. 

The tech mogul has retreated from the public eye since openly criticizing Chinese state regulators for stifling the country’s innovation.

Ma’s speech led the CCP to suspend a blockbuster $37 billion IPO of Ma’s Ant Group. Moreover, the CCP demanded an entire overhaul of the fintech group, which has not yet ended.  

As reported by Da Ji Yuan, despite all of the pain caused to Ma and Alibaba, the CCP still ordered the conference’s new secretary Yi Lianhong to offer Alibaba support right after the conference ended.

But Li thinks that Alibaba would probably turn down the offer this time.

Li said that Chinese entrepreneurs are terrified of the CCP’s policy of harming enterprises.

The CCP’s ultimate goal is to eliminate private companies. Therefore, now is the chance for firms to show the aspirations of Chinese entrepreneurs.

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