In Oct 2020 Jack Ma precipitated the tech crackdown by remarking:

"We can’t use yesterday’s methods to regulate the future."

In Jan 2023 China's National People's Congress invited a prof to argue the *same point*

Big tech requires new governance

A🧵on coming full circle 1/ ICYMI: The tech crackdown is over following signals at the Dec Central Economic Work Conference. triviumchina.com/2023/01/09/reg…

This fulfills the 1st half of Xi's April '22 promise to "complete the special rectification of the platform economy [&] implement normalized supervision"

2/

For decades, the most important performance metric for Chinese officials advancement in the Party was delivering GDP growth.

That era is over - and now it is all about tech progress.

QUICK THREAD 1/ ICYMI:

Two of the biggest messages from the Xi's 20th Party Congress Report were:
- Development goals have shifted from quantity to quality
- Tech progress is critical to the future of the country

The latter stands out even more compared to 19PC, which barely mentioned tech 2/

Worth doing a bit more analysis to inform this crystal ball.

If we think more concretely about the specific situation political leaders and regulators in Beijing find themselves in, I think we can pretty well guess at their mindset and the future (with a grain of salt) 1/

https://twitter.com/freefader/status/1481928032898400267

First, "green lights" to capital. The fact is, there are loads of signals to capital about what to invest in (like the subsides I mentioned in the original thread)... and they work! Investors are attracted. I don't think much more prodding needed 2/

https://twitter.com/briefnorris/status/1481936675651481601

The Chinese government is rethinking the role of private capital in the economy.

One of the big questions for 2022 (and beyond): how the state should adjust the way it guides private investment.

A quick thread on how the Chinese gov't *might* influence the way you invest One key theme of the “tech crackdown” last year was the state’s resolution that capital needs to be better controlled – no more “disorderly expansion.”

This goal of more control was made more explicit at the December Central Economic Work Conference (CEWC).

There's an overlooked debate re: data security policy in China. Yesterday, a researcher at CAICT - a think tank under MIIT that supports research and rollout of ICT policy - published an op/ed arguing that current global views on data localization are seriously flawed. 1/ Why it matters: data localization requirements are a critically important (and still evolving) piece of China’s cyber/data security framework. Compliance with strict (and vague) data localization requirements in China is a major strategic business challenge for multinationals. 2/