Xi wants China's state-owned companies to be more influential

📆 30/11/2019 07:11:00
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BEIJING, ANN (Nov 30) - An important meeting chaired by Xi Jinping, general secretary of the Communist Party of China Central Committee, on Friday (NOv 29) stressed the need to bolster the Communist Party of China's leadership over state-owned enterprises (SOEs) and make the sector more competitive and influential.

The meeting of the Political Bureau of the CPC Central Committee also called for efforts to incorporate party leadership into each part of corporate governance of SOEs and to unify party leadership while improving corporate governance.

Boosting Party leadership over SOEs is of major significance in making the state-owned sector more competitive, innovative, dominant, influential and capable to guard against risks. It will also help state capital become stronger, do better and grow bigger, it said. It is important to embed party organizations into the governance structure of SOEs and make clear their legal position within the corporate legal person management system, the statement said.

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Basically saying 'guys You all are under the party control. So shut the fvck up & do what the party says'

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