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Recently, when Zhang Yiming, the co-founder of ByteDance&mdash;the parent company of popular internet video brand TikTok announced that he will step down by the end of year, it no longer came as a shock. In fact, it simply sealed the apprehension of many entrepreneurs and the private sector in general, that it had fallen under the red hammer of&nbsp; the Chinese Communist Party (CCP).&nbsp;</p>
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Analysts<em> India Narrative</em> spoke to, said that the serial targeting of the Chinese tycoons could be just the beginning. &ldquo;There may be many more &ndash;some that will hit headlines and some which may not,&rdquo; one of them said, adding that it is an all-important message from the Chinese government to the country&rsquo;s private businesses that they were being watched.</p>
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Zhang of Bytdance attributed his resignation to his personality traits, rather than blaming the authorities. &ldquo;The truth is, I lack some of the skills that make an ideal manager. I&rsquo;m more interested in analyzing organizational and market principles, and leveraging these theories to further reduce management work,&nbsp; rather than actually managing people. Similarly, I&#39;m not very social, preferring solitary activities like being online, reading, listening to music and daydreaming about what may be possible,&rdquo; Zhang said in a statement.</p>
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A series of resignations of top bosses of Chinese tech companies has taken place since business tycoon and co-founder of Alibaba Group went underground last October.&nbsp; The clamp down on Ma and his companies shocked not just China&rsquo;s private sector but sent jitters the world over. The Chinese government appears to be on a path to stifle the curated private sector it had built.</p>
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<strong>Also read:</strong>&nbsp;&nbsp;<a href="https://www.indianarrative.com/opinion-news/despite-gdp-growth-in-q-china-s-economy-faces-strong-headwinds-91924.html">Despite 18.3% GDP growth in Q1, China&#39;s economy faces strong headwinds</a></p>
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&ldquo;Ma&rsquo;s success story actually was a success story of China and how things in the country were changing from what they were decades ago..This incident however has shaken that ground and is also a sort of warning,&rdquo; the analyst said.</p>
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Earlier, Colin Zheng Huang, the founder and former CEO of e-commerce platform Pinduoduo, stepped down to pursue research in food and life sciences.</p>
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In December, Wall Street Journal in an article said that Chinese President Xi Jinping, long distrustful of the private sector, is moving assertively to bring it to heel, ntowithstandign&nbsp; an exceptiopnally vibrant role of the private sector in creating the maximum number of jobs.</p>
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&ldquo;The problem with China is somewhat self-created. The private sector has been contributing to the Chinese economy while creating jobs but now it does not know how to handle its own private sector,&rdquo; Subhomoy Bhattacharjee, Senior Adjunct Fellow at RIS (Research and Information System for Developing Countries) told <em>India Narrative</em>.</p>
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While clapmping down on &quot;free-spiritied&quot; private entrepreneurs, the CCP appears to be engaged in its unique hybrid-model of the so-called private enterprise, which, at a strategic level is steered by the Party.</p>
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Unsurprisingly, The Wall Street article pointed out that the government has started &ldquo;installing more Communist Party officials inside private firms, starving some of credit and demanding executives tailor their businesses to achieve state goals.</p>
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&nbsp;<strong>The Wall Street Journal report:</strong>&nbsp;&nbsp;<a href="https://www.wsj.com/articles/china-xi-clampdown-private-sector-communist-party-11607612531">China&rsquo;s Xi Ramps Up Control of Private Sector. &lsquo;We Have No Choice but to Follow the Party.&rsquo;</a></p>
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In trying to expecise greater control, the Chinese government has gone into overdrive to marshall and process mountatis of data to perfect its survellance state model.</p>
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A Bloomberg report noted that &ldquo;Xi&rsquo;s administration has tightened control over the hoard of information produced by the nation&rsquo;s tech companies as part of broader efforts to position China as a leader in big data.&rdquo; Not just that, Beijing has been pouring money into data centers and other digital infrastructure to make electronic information a national economic driver and help shore up the Communist Party&rsquo;s legitimacy, it said.</p>
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