Xi Jinping has taken China back to the days of Mao Zedong. He has placed state ideology above anything else in China with him as the head till death do them part.
Xi has put fear into Chinese hightech gurus like Jack Ma. Now Jack Ma lives is in exile in japan. China needs innovative young well educated people and these can only be attracted with monetary rewards for themselves. State ideology means nothing to these capitalists. China will loose here.