Letter from China: Beijing’s stability focus threatens climate goals

The Chinese government’s renewed focus on centralised control and economic pressure may undermine decarbonisation efforts

A considerable number of private companies that play a critical role in China’s economy have been brought to heel over the past year in a way that—from a Western perspective—seems counter-intuitive and detrimental to Chinese development and modernisation. In sectors ranging from technology and gaming to private tutoring and property, a slew of companies have been reprimanded, slashing their market value and raising questions about the future openness of China’s economy. What appears to be driving this new stance is that stability and control are now the priorities for the Communist Party. “We need a steady pace to sustain China’s development. What we hope for such a big economy as China’s,