Under Chinese leader Xi Jinping, China’s political and economic system has undergone a fundamental transformation, further distinguishing China’s unique brand of state capitalism from market economies, and adding additional strain on the rules, regulations, and institutions that underpin the global economic order. Most notably, Beijing has reasserted the Chinese Communist Party’s (CCP) control over the economy through a number of new and creative tools that have no direct comparison in free market economies. The complexity and unfamiliarity of these tools means that many of the core features of China’s economic model—and the CCP’s control over it—remain insufficiently understood by policymakers in the United States, European Union, and in other market-based democratic polities.
The Freeman Chair in China Studies has undertaken a multiyear initiative to explore and map the key features of China's evolving state capitalist system, what we call “CCP Inc.,” in order to better assess its strengths and weaknesses. The project will explore the overall ecosystem of key state-owned and private commercial actors, state-owned financiers, and government regulators to understand how these actors are interconnected through a complex and often opaque web of direct and indirect transactional, financial, strategic, operational, and political relationships. The project makes extensive use of ownership and shareholding information, financial and investment data, Chinese government policies and documents, interviews with industry executives, government officials, and subject-matter experts, as well as cutting-edge academic research to provide the first comprehensive global mapping of CCP-controlled and directed capital and investment.
The project will conclude with recommendations for policy and institutional reforms so that the United States and its market economy allies can effectively respond to the challenges of China’s state capitalist system.
The project will explore key questions about the overall design and degree of state coordination, economic strength, and financial sustainability of CCP Inc. through five case study reports:
- Transportation (est April 2021)
- Telecommunications (est May 2021)
- Financial Services (est July 2021)
- Construction (est November 2021)
- Energy (est March 2022)
Upon completion of the five case studies, the Freeman Chair will produce a comprehensive framework report that summarizes the key findings and suggests a series of recommendations for U.S. and allied government policymakers to effectively respond to the challenge of Chinse state capitalism.
Research reports, commentary, podcasts, and translations by the Freeman Chair that further explore the CCP Inc. challenge.