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China Signals More Regulation for Businesses in Coming Years

  • Authorities release five-year plan to strengthen rule of law
  • Calls for greater law enforcement across a range of sectors
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WATCH: China widens a regulatory dragnet that has roiled global investors. Stephen Engle reports.(Source: Bloomberg)
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China released a five-year blueprint calling for greater regulation of vast parts of the economy, providing a sweeping framework for the broader crackdown on key industries that has left investors reeling.

The document, jointly issued late Wednesday by the State Council and the Communist Party’s Central Committee, said authorities would “actively” work on legislation in areas including national security, technology and monopolies. Law enforcement will be strengthened in sectors ranging from food and drugs to big data and artificial intelligence, the document said.