Foreign investors are worried
The officials were from Yingshang’s Administration for Market Regulation, which handles company registrations. It also supervises party committees inside private firms. Over the past two decades the party has been trying to ensure that as many businesses as possible have a party organisation embedded within. Since he took power in 2012, Xi Jinping has been ramping up this effort. By 2015 state-owned enterprises were being pushed to enshrine a leading role for the party in their charters.
Sometimes it is difficult for an outsider to discern the way the party exerts power: it is omnipresent, but often hard to see. Take the Beijing-based Asian Infrastructure Investment Bank , a multilateral institution founded in 2016 by China, its biggest shareholder. Party regulations require that wherever three or more employees in a workplace are party members, they must set up a party branch. One with seven or more members should appoint a party secretary. Thehas no declared party structure.
As the meeting in Yingshang suggests, the private sector is now increasingly in the party’s sights. Participants were told that the charter-rewriting effort was aimed at “upholding and strengthening the party’s all-round leadership of private enterprises”. The revised articles should set out staffing for the party branch, pledge funding for it and embed the party in the “corporate governance structure”, says an account by Yingshang’s party authorities.s is now often applied to private firms.
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