China Steps Up Communist Party Control in State-Owned Firms
- New regulation grants more power to party committees
- Greater party role could complicate trade battles with U.S.
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China’s Communist Party issued new rules for state-owned enterprises, giving it greater control of companies that span industries from energy to banking and telecommunications.
Wholly or majority state-owned companies must “integrate party leadership into every part of company governance,” according to rules published Sunday on the central government’s website. The regulation took effect at the end of last month on a trial basis.