who-runs-china-inc-ask-observers

Who runs China Inc, ask observers

The China Life case raises questions about the governmentÆs control over its own SOEs, say specialists.
The debacle last week concerning the apparent refusal of China Life Insurance chairman Yang Chao to move over to PICC Property and Casualty should be a warning to investors, say observers.

ôInvestors tend to think state-ownership in China provides stability, but thatÆs not always the case,ö says one industry source.

The events since last Wednesday show how difficult it is to track down who is the final decision maker in the nexus between Chinese politics and business, adds one foreign diplomat in Beijing.

Yang ChaoÆs apparent refusal to go along with the requirements of the China Insurance Regulatory Commission CIRC was followed by an announcement on the CIRC website late last week that his deputy...
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