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Xi cracks the whip on everything to strengthen party grip on China

And right now they revolve around the convergence of technology, finance and Hong Kong

China, Xi Jinping
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Chinese President Xi Jinping is moving swiftly to foil perceived threats to the Communist Party. (Photo: Bloomberg)

Bloomberg News
The past few weeks have shown that Chinese President Xi Jinping can move extremely fast when he hones in on long-term threats to the Communist Party. And right now they revolve around the convergence of technology, finance and Hong Kong.

Since unveiling a goal last month to double the size of the economy by 2035, China has embarked on a sweeping crackdown of some of its most valuable companies. The shock suspension of Ant Group Co.’s $35 billion initial public offering was quickly followed by more anti-monopoly rules to rein in former tech darlings Tencent Holdings Ltd. and Alibaba Group Holding