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AP National Business

China chases ‘rejuvenation’ with control of tycoons, society

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Published 10:14 PM

By JOE McDONALD
Associated Press

BEIJING (AP) — An avalanche of changes launched by China’s ruling Communist Party has jolted everyone from tech billionaires to schoolchildren. Behind the changes is President Xi Jinping’s vision of reviving an idealized earlier era of vigorous party leadership, with more economic equality and tighter control over society and billionaire entrepreneurs. Since he took power in 2012, Xi has called for the Communist Party to return to its “original mission” as China’s economic, social and cultural leader and carry out the “rejuvenation of the great Chinese nation.” The party is promising to spread prosperity more evenly and is pressing private companies to pay for social welfare and Beijing’s global technology ambitions.

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