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'@@ -1,0 +1,1 @@ +China has cracked down on a range of sectors as part of a drive to tighten its grip on the economy, while Xi Jinping has set his sights on the country's uber-rich, calling for 'common prosperity'<br> <br>China's recent clampdowns on a range of industries including tech firms and the education sector will not detract from its goal of opening up the economy, [http://pelittursulari.com pelittursulari.com] state media said Wednesday, as Beijing rushes to reassure rattled investors.<br> <br>Sweeping regulatory changes over the past months have targeted everything from monopolistic behaviour to data security, rattling share prices and wiping billions off companies' valuations.<br> <br>Authorities have ordered some of China's biggest tech firms to stop "disorderly expansion", scuppered the bumper listing of financial giant Ant group, [http://IsTopDeath.com istopdeath.Com] and [http://iaciu-oopl.org iaciu-oopl.org] launched a series of antitrust and cybersecurity probes.<br> <br>A fresh push by President Xi Jinping targeting the country's uber-rich and calling for "common prosperity" has added fire to public debate, [http://lefloreenlile.com lefloreenlile.com] as have moves to tighten oversight of pop culture.<br> <br>But a widely shared article by a well-known blogger calling the clampdowns a "profound revolution" has prompted a scramble by public figures and state media to counter growing fears that the changes amount to a second Cultural Revolution.<br> <br>"Opening to the outside world is China's basic national policy, and this will not waver at any point," a front-page People's Daily editorial proclaimed on Wednesday.<br> <br>"Unswervingly, the principles and policies of encouraging, supporting and guiding the development of the non-public sector of the economy have not changed," the state outlet added.<br> <br>The editorial on Wednesday added that the regulations are to guide enterprises to obey the ruling party's leadership and serve the country's broader interests of economic and social development.<br> <br>Its timing also sends a message that authorities recognise "the significance of the private economy and private tech companies... and will continue to have their back", [http://guardiansofscotlandtrust.com Guardiansofscotlandtrust.com] said Ether Yin, a partner at consultancy Trivium China.<br> <br>"The crackdown is a correction of previous regulatory lapse and (marks) the pains of growing up," he added.<br> <br>And [http://topklassevoetbal.info topklassevoetbal.info] Feng Chucheng, [http://michaeltoye.com http://michaeltoye.com] at research firm Plenum, [http://zep-unehistoiredhommes.com Http://Zep-Unehistoiredhommes.com] said: "I think there is a lot of misunderstanding in terms of what Beijing really wants to achieve with its latest regulatory actions."<br> <br>On Wednesday, China's foreign ministry defended the government's regulatory moves, saying they were aimed at promoting "the fair, orderly and sustainable growth and development of China's economy".<br> <br>Observers believe Beijing is trying to ease the fears of foreign investors.<br> <br>Business groups have warned that China's business environment had become more politicised last year.<br> <br>"The Chinese Communist Party has some very ambitious techno-nationalist goals that it has not yet reached," said Hinrich Foundation research fellow Alex Capri.<br> <br>"It still needs outside investors, it still needs technology transfers," he said.<br><br>"The end game is still going to be self-suffiency... but they have to spin this very carefully."<br> '