Ongoing reforms are impacting China's economic and financial outlook. Years of light-touch regulation have propelled tremendous growth in numerous fields, including internet-enabled services and e-commerce, education, travel and hospitality, and finance. Over the last few years, however, the Chinese government has pulled back on the reins of private-sector-driven capitalism, imposing new regulations in an attempt to curb growing social and wealth inequalities. How are businesses realigning their strategies to remain competitive in the era of President Xi's "common prosperity?" How might continuing transformations impact business activities in the years ahead? And from which sectors might new opportunities come?