China’s Xi Speeds Up Inward Economic Shift

For a long time, Chinese leaders embraced international investments and exports to electric power China’s financial system. Now, with the world in recession and U.S.-China tensions deepening, President Xi Jinping is laying out a significant initiative to speed up China’s shift towards extra reliance on its domestic financial system.

The new policy is attaining urgency as Chinese organizations, including Huawei Technologies Co. and Bytedance Ltd., encounter expanding resistance in international markets, Chinese officials say.

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