News eDaily25 Oct 2017

China:Party units being activated in foreign insurance JVs

25 Oct 2017

The Communist Party is establishing or reviving "party committees" in joint ventures with foreign insurance companies in the country, reported Financial Times citing five industry executives.

The sources said that the Party hopes to keep the foreign-owned ventures in line with China’s broader goals for the sector.

The foreign partners of state-owned groups are generally starting to complain that the push to set up Party cells in the groups means that decision-making, even at the local management level, is increasingly being routed through the Party.

 

 

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