On March 8th, Xi Jinping bluntly accused the United States of deterring the rise of Communist China and stated that modernization does not amount to Westernization. He demanded an all-out effort to develop advanced technology and reduce its dependence on Western technology and pointed a finger at the U.S. as a major threat to China’s growth. At the same time, high-level government watchdogs have been set up to increase oversight of three major sectors within Communist China, namely, finance, technology and data. Financial supervision is revived in response to the crumbling housing market. The Ministry of Science and Technology, which has been optimized by the Chinese Communist Party, is intended to exert more party control over funding. Lastly, the National Bureau of Statistics will place data under central governance. Therefore, it is clear that power will be further concentrated in the hands of the Xi faction of the CCP, which means that everyone within the country will be kept under party surveillance.
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