This Chinese Government Plan Could Hurt Chinese Tech Stocks

Chinese President Xi Jinping and the Communist Party's Central Committee recently introduced new plans that would enable the government to assert tighter controls over the private sector. The new rules will require companies to hire a certain number of registered CCP members. This marks a major shift from the CCP's previous stance on the private sector, in which it imposed rules on companies but didn't directly interfere with their day-to-day operations.