China Crackdowns Shrink Private Sector’s Slice of Big Business
- Peterson Institute highlights impact of tough regulation
- Private firms still have trended larger under Xi Jinping
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China’s regulatory crackdowns last year reduced the private sector’s share of the country’s big businesses for the first time in seven years, but probably won’t be enough to send them into retreat entirely.
Of China’s top 100 listed companies by market capitalization at the end of 2021, 49 were privately owned, down from 53 the previous year, according to a report by the Peterson Institute for International Economics. It’s the first time that number has fallen since 2014.