China's Cyberspace Administration has launched a two-month campaign targeting malicious online commentators who defame private enterprises. The campaign aims to curb online activities such as slander, defamation, and extortion that infringe on the legitimate rights of businesses. Concurrently, China is intensifying efforts to regulate enterprise-related administrative law enforcement to create a transparent, law-based business environment and stimulate private sector growth. This includes implementing an early warning system to flag localities where fines and confiscated revenues have surged. Additionally, the China Securities Regulatory Commission (CSRC) announced plans to support high-quality red-chip technology firms in returning to the domestic market and to implement a more flexible and precise counter-cyclical adjustment mechanism for initial public offerings (IPOs). Chinese authorities are also planning regulations to facilitate overseas listings for technology firms.