Huobi Group, the owner of cryptocurrency exchange Huobi, has established a local branch of the Communist Party of China (CPC) in Beijing, as reported on Tuesday by the South China Morning Post (SCMP). The committee is under the umbrella of a company subsidiary called Beijing Lianhuo Information Service.
As per the CPC’s chapter, every state and private entity should establish a political branch if the organization has more than two employees who are party members. The committee works as a center for the propaganda of CPC policies and decisions.
According to the SCMP, the creation of a CPC branch is a typical move for state-owned enterprises, but in recent years, the process has also become widespread among private...
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