China is No Longer Just Any Emerging Market — It Has Become Its Own Beast (CNBC)

“This mood has shifted from China being one of the most attractive places to invest in the world and how much certainty there was perceived to be in policy, to the fact that the rivalry [with the U.S.] has introduced an uncertainty element and quite a substantial risk element,” said Ketan Patel, co-founder and CEO of Greater Pacific Capital.
Chinese law has long required internal party committees — for companies with at least three party members. However, enforcement began to pick up only after 2012, according to the Center for Strategic and International Studies.
New rules from the China Securities Regulatory Commission that took effect in June say securities investment funds in China need to set up an internal party office. When asked about the new rules, the securities regulator said they are in line with corporate governance principles and Chinese law, and there’s “no need to worry at all” about data security, according to a CNBC translation of the Chinese.
But before the pandemic, he said, at least one large Western asset manager decided not to set up a subsidiary in China because once they learned establishing a party cell would be required, “that overcame all of the potential commercial gains.” READ MORE