China boosts ties to Geely, others as economy sputters
2019-09-29 10:02:13
Hangzhou, China's top technology hub, plans to assign government officials to work with 100 private companies, including Geely and e-commerce giant Alibaba, according to state media reports, in a move likely to raise concerns over the growing role of the state. The move underscores how Chinese government and party authorities are growing more deeply integrated in the private sector, as the economy sputters amid an intensifying trade war with the United States. The city of Hangzhou, home to Alibaba Group Holding, will designate government officials to work with 100 local companies in the eastern province of Zhejiang, the local government said on its website. The directives, designed to boost the local manufacturing industry, did not name the 100 companies subject to the policy, but state media reports said Alibaba and automaker Zhejiang Geely Automobile Holdings would be among the companies. Alibaba said the plan would not interfere with its operations. "We understand this initiative... aims to foster a better business environment in support of Hangzhou-based enterprises. The government representative will function as a bridge to the private sector, and will not interfere with the company's operations," Alibaba said in a statement. Geely did not immediately respond to a request for comment.
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