https://noqreport.com/2022/06/19/china-orders-foreign-funds-management-companies-to-create-units-to-be-managed-by-the-ccp/

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China is ordering all fund management companies within its borders to set up an internal unit to be supervised by the CCP.

The Chinese government is preparing to enforce regulations on all fund management companies operating in China — including U.S.-based and other foreign firms — requiring them to set up an internal unit for supervision by the ruling Chinese Communist Party (CCP). In May, the China Securities Regulatory Commission (CSRC) implemented new changes to its industry rules governing publicly offered securities investment funds. Ignites Asia — an extension of Financial Times — first reported this week that one of the provisions in the new CSRC rules requires companies to establish a CCP apparatus within their companies. “Fund management companies shall, in accordance with the provisions of the Articles of Association of the Communist Party of China, establish party organizations, carry out party activities, and provide necessary conditions for the activities of party organizations,” the provision states, according to a translation by Ignites Asia. “State-owned fund management companies shall, in accordance with relevant regulations, integrate party leadership into all aspects of corporate governance, and include party building work requirements into the company’s articles of association, so as to implement […]

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