- Xi announced more hands-on CCP oversight for all companies in 2020 after a few decades of Wild West-style capitalism. The point of temporary capitalism was to grow the Chinese economy to a Western standard and avoid Soviet-style economic stagnation, which ultimately made the USSR non-viable. Then control and suppress the economoy going forward.
- Xi had himself declared dictator for life, well, to be exactly that. He doesn't need industry titans distracting the population, or leaving him in the shade. There can be only one.