Politburo on capital; Mass testing; Beijing outbreak; Blinken speech on US-China; Jack Ma

On Friday afternoon, after the release of the Politburo meeting readout that injected positive energy into the markets just before the holiday, the Politburo held a study session.

The topic of the study session was “regulating and guiding the healthy development of capital in China according to law 依法规范和引导我国资本健康发展 发挥资本作为重要生产要素的积极作用” and the discussant was Liu Yuanchun, vice president of Renmin U 中国人民大学副校长、教授刘元春 .

There did not appear to be any real shifts from the discussion of capital coming out of the Central Economic Work Conference in December. Regulators will be busy, as there are 26 mentions of 监管 "oversight" in the readout. I am not convinced this study session should give “capitalists” confidence.

Near the end of the readout we get a warning that more corruption cases are coming, and there may be more headline risk ahead for platform companies.

Here are some excerpts from the Xinhua translation:

Xi stressed that capital is a major factor of production in the socialist market eco…