- Bike sharing giant Ofo will include the role of the Chinese Communist Party (CCP) within its corporate charter.
- Ofo will also allow its CCP committee to provide input on personnel issues and "major decisions."
- The purpose of these committees, which are sometimes legally required, is to "promote and implement the Party’s line, principles and policies."
- Ofo's decision came a week after rule was proposed that would require all firms to have a Party committee before being listed on the stock exchange.
Bike sharing giant Ofo will be changing its corporate charter to highlight the role of the Chinese Communist Party (CCP) in its operations.
The company's CCP committee will also now be able to provide input on Ofo's personnel and "other major decisions" before they're executed, according to state-run Global Times.
See the rest of the story at Business Insider
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See Also:
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- China will lift part of its 'Great Firewall' to give foreigners access to Facebook, YouTube, and Twitter on a tropical island dubbed 'Hawaii of the East'
- Chinese smartphone company Oppo just revealed a Lamborghini-edition phone that costs nearly $2,000
SEE ALSO: One chilling story shows how far China will go to silence critics
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