CHINA POLICY Leads, a private China-focused research and advisory team based in Beijing founded and led by Philippa Jones, a British China-policy professional, and David Kelly, an Australian China scholar and policy analyst, has noticed a major development in China government policy aimed at shutting down sections of financial parasitism and concentrating efforts more on the real economy.
”Qiushi, the Party’s flagship theoretical journal, gave much of its 16 May 2026 issue to the real economy,” CHINA POLICY Leads reports. “It carried three pieces: a compilation of Xi Jinping’s remarks on the real economy, 2016–25; an article by Li Lecheng 李乐成 MIIT (Ministry of Industry and Information Technology) on securing the real economy on a manufacturing base; and a notably self-critical piece by Mo Wangui 莫万贵 PBoC (People’s Bank of China) financial research institute on the gaps in financial service to industry.”
