Chinese leadership has shown time and time again that is willing to ruin the country economic base rather than undergo any political change that will lower even the reputation of the "party as the center of the nation". Xi Jimping is going on the route of Mao, nationalizing or destroying all major businesses propping up in their stead State Owned/controlled alternatives. Entrepreneurs always felt like a necessary evil to the party, but Xi with his "common prosperity" isnt playing nice anymore