China's top technology hub Hangzhou plans to assign government officials to...
SHANGHAI - China’s top technology hub Hangzhou plans to assign government officials to work with 100 private companies including e-commerce giant Alibaba, according to state media reports, in a move likely to raise concerns over the growing role of the state.
The step underscores how Chinese government and party authorities are growing more deeply integrated into the private sector, as its economy sputters amid an intensifying trade war with the United States. The directives, presented as a means to boost the local manufacturing industry, did not name the 100 companies subject to the policy, but state media reports said Alibaba and auto maker Zhejiang Geely Automobile Holdings Ltd [GEELY.UL] would be among the companies.“We understand this initiative... aims to foster a better business environment in support of Hangzhou-based enterprises.
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