This Chinese Government Plan Could Hurt Chinese Tech Stocks

Chinese President Xi Jinping and the Communist Party's Central Committee recently introduced new plans that would enable the government to assert tighter controls over the private sector. These plans include over a hundred new measures that the CCP claims will redefine "socialism with Chinese characteristics" and "further strengthen the Party's leadership" over those companies.

The new rules will require companies to hire a certain number of registered CCP members. Those employees, in turn, will monitor the companies to ensure they follow the party's ideologies, regulate their "own words and deeds," improve their morals and self-discipline, cultivate positive public images, and set up channels of communication with the government.

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Source Fool.com