https://www.theguardian.com/world/2019/jul/25/china-business-xi-jinping-communist-party-state-private-enterprise-huawei https://www.theguardian.com/world/2019/j

https://www.theguardian.com/world/2019/jul/25/china-business-xi-jinping-communist-party-state-private-enterprise-huawei https://www.theguardian.com/world/2019/jul/25/china-business... > In 2018, the securities regulator followed up by issuing a new corporate governance code requiring listed firms, at home and abroad, to include in their internal guidelines an expansive role for the party. Many Chinese companies listed in Hong Kong also wrote the party’s role into their articles of association. > In some ways, codifying in public documents the party’s role in managing companies was both an instance of rare transparency and part of an increasing trend of the party openly displaying its power. In the past, Chinese state-owned listed companies had customarily filed misleading prospectuses ahead of their stock exchange listings, omitting the party’s pivotal role in the hiring and firing of senior executives. [...] China doesn't have laws in the same way that we do. There, the model is that it's impossible to do business without violating the law, but the government might loosen up on enforcing it. If they feel like it, of course. Against this backdrop, providing explicit legislation is just an unnecessary encumberance.