China’s ruling Communist Party is stepping up oversight of technology firms, internet platforms and digital finance in a sweeping drive to tackle corruption and tighten control over the country’s rapidly evolving digital economy.
A resolution adopted at the Fifth Plenary Session of the 20th Communist Party Central Committee on 29 October and published in full by Xinhua on 1 November sets out plans to strengthen Party organisations within digital platforms and high-tech companies, alongside tighter controls on the use of public power.
The document also calls for a digital disciplinary inspection system and a big-data platform to monitor public officials.
The measures signal Beijing’s determination to bring emerging technologies and the companies behind them under closer Party supervision.
The resolution calls for stronger Party organisations within internet companies and changes to how they are managed, potentially expanding oversight of businesses central to China’s digital economy.
A central priority is using technology to uncover increasingly sophisticated forms of corruption.
The document directs authorities to target illicit activities involving the internet, virtual currencies, cross-border capital flows and blockchain technology.
It also calls for investigations into concealed corruption, including assets held by third parties, delayed payments for favours and business arrangements maintained by officials after leaving public office.
Officials and their families will also face closer financial scrutiny. The resolution calls for investigations where wealth or spending significantly exceeds legitimate income, alongside tighter supervision of businesses run by officials’ spouses and children.
The push comes as China expands its digital economy while maintaining strict controls on private cryptocurrency activity.
Authorities have repeatedly warned of the risks associated with virtual currency speculation. A major regulatory crackdown in 2021 declared cryptocurrency-related transactions illegal.
The latest resolution stops short of introducing a new trading ban and does not specifically mention Bitcoin, stablecoins or cryptocurrency mining.
Instead, it identifies virtual currencies and blockchain technology as potential tools for concealing or facilitating corruption.
The document also outlines plans to expand data-driven monitoring within the Party’s disciplinary system.
New digital supervision platforms are intended to help investigators detect irregularities, trace financial connections and scrutinise how public officials exercise their authority.
The resolution forms part of President Xi Jinping’s broader drive to strengthen Party discipline, combat corruption and tighten supervision of officials.
It also formally establishes Xi Jinping Thought on Party Building as a guiding framework for Party governance.
Although no detailed implementation timetable has been announced, the resolution signals a further expansion of Communist Party oversight across China’s technology sector and the digital financial system.
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