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Xi Boosts Party in China’s $18 Trillion State Company Sector

  • SOEs amending articles of association to boost party’s role
  • Party should ‘strengthen and improve’ control, Xi says
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Xi Boosts Party Say in SOE Sector

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Chinese President Xi Jinping is putting more of the "state" in "state-owned enterprise." 

Carmaker FAW Car Co., fiber producer Sinoma Science & Technology Co. and miner Tibet Mineral Development Co. have recently modified their bylaws to give Xi’s Communist Party more oversight of management decisions. For example, company boards will now have an obligation to listen to internal party committees before making major decisions.