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Xi Boosts Party Control of China’s Economy With Vast Changes

  • Reforms set to be unveiled at gathering that starts March 5
  • Xi spoke to top officials of Communist Party and its allies
Bloomberg business news
China Economy Rebounding Faster Than Leaders Expected
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President Xi Jinping moved to consolidate the Communist Party’s hold over the world’s second-biggest economy, touting plans for sweeping changes to China’s bureaucracy and more influence within private companies.

In a speech on Tuesday ahead of the annual National People’s Congress legislative session, Xi said the party would roll out plans for “deepening structural reform” in the financial sector and exercise more control over science and technology work — key strategic areas as the US moves to prevent China from obtaining advanced computer chips and other high-tech products.