Editor’s note for Tuesday, August 31, 2021

A note from the editor of today’s SupChina Access newsletter

My thoughts today:

I am keeping a list of China’s crackdowns on tech and business, which has become necessary because so many are going on that our comprehensive guide to the tech crackdowns published on August 2 is already out of date. Based on that guide, yesterday’s SupChina summary and this Reuters piece, here are the current targets of the state’s onslaught against the power of private capital:

  • Ecommerce companies
  • Social media companies
  • Fintech companies
  • Fan clubs (organized online and promoted by TV) and celebrity culture
  • High-income individuals who avoid taxes, or make “excessively high incomes”
  • Tutoring and education companies, private schools
  • Gaming companies
  • Ride-sharing, car-hailing, bike sharing, and powerbank sharing companies
  • Companies that want to IPO in the U.S.
  • Companies that make heavy use of algorithms
  • Cloud computing firms that sell services to state and Party organizations
  • Bitcoin miners and crypto exchanges
  • Real estate companies and landlords
  • Private investment funds

I wonder, does Ray Dalio still think it’s business as usual in China?

Our word of the day is dumbbell (哑铃 yǎlíng).