China’s economy recorded growth of 18.3% in the first quarter after last year’s deep slump due to COVID-19. However, policymakers have expressed concern over elevated debt levels and aim to strike a balance between sustaining growth and containing risks. This is also the first year of China’s 14th Five-year Plan covering the 2021-26 period. As China continues its transition from a quantity-driven model of growth towards higher quality growth, many ambitious goals have been articulated, spanning technology innovation, sustainable development, social policy, and other areas. In recent months, the country’s policymakers have also released new anti-monopoly regulations that are reshaping the rules of competition in the nation’s sprawling Internet economy.