EDIT: Apparently Yogthos posted this in a couple places but Sino only has 8k subs whereas this has 23k so I’ll leave it here.
I posted this in the news mega the other day but it deserves its own post. This law was signed in December but was apparently missed by most socialists. It goes into effect on July 1st.
Some snippets and explanations:
Article 17(2) of the Revised Company Law now stipulates that the assembly of employee representatives shall be the basic form of the democratic corporate governance system and that this shall apply to all companies. That means, regardless of whether a company is private or state-owned, whether it is a limited liability or a stock corporation. This is a notable development, as democratic corporate governance as a requirement for all companies is set out in national law for the first time.
A new organ is required in all companies called the Employee Assembly. It is democratic in nature.
An enterprise shall decide whether to convene an assembly of employee representatives or an assembly of all employees according to the Provisions on Democratic Governance of Enterprises, relevant local regulations, and subject to the number of its employees. In general, an enterprise with 100 or more employees shall convene an assembly of employee representatives; an enterprise with fewer than 100 employees should convene an assembly of all employees. An assembly of employee representatives (or an assembly of all employees, the “Employee Assembly”) is an organ for employees to exercise their power of democratic governance of the enterprise.
It is made up of all employees in companies below 100 members, or representatives are elected in companies above 100 members.
The trade union of an enterprise is the executive organ of its Employee Assembly and is responsible for the daily work of the Employee Assembly.
Cool
An Employee Assembly shall be convened at least once a year, and more than two-thirds of the employee representatives must be present at the plenary session of an Employee Assembly. Elections and votes on relevant matters at an Employee Assembly require a majority of all employee representatives.
Very cool
an Employee Assembly shall usually exercise the following powers and functions:
(I) Listening to the reports from the main persons responsible for the enterprise on the enterprise’s development planning, annual production and operation management, enterprise reform and formulation of major rules and regulations, employment issues, conclusion and implementation of labor contracts and collective contracts, production safety, and payment of social insurance premiums and housing provident funds; and making comments and suggestions thereon;
(II) Deliberating the rules and regulations or major proposals formulated, amended or adopted by the enterprise which may directly affect the immediate interests of its employees, such as remuneration, working hours, rest and vacation, occupational safety and health, insurance and welfare, employee training, labor discipline, and the management of labor quotas; and making comments and suggestions thereon;
(III) Deliberating and adopting the draft collective contracts, the plan for the use of the employees’ welfare fund drawn down in accordance with the relevant national regulations, the plan for adjusting the rate and timing of the payment of housing provident funds and social insurance premiums, the recommendation of candidates for model employees and other important matters;
(IV) Electing or dismissing employee directors and employee supervisors, electing employee representatives to meetings of creditors and creditors’ committees of the enterprise subject to bankruptcy proceedings in accordance with the law, and recommending or electing management personnel of the enterprise as authorized;
(V) Reviewing and monitoring the implementation of labor laws and regulations and labor rules by the enterprise, democratically evaluating the leaders of the enterprise, and making recommendations on rewards and punishments; and
(VI) Such other powers and functions as may be provided by laws or regulations.
Powers = Having access to all information of the company at every level, which is very important to worker benefits and ensuring labour law is being followed. Also the dismissing of directors, supervisors, managers, and electing representatives to meetings of creditors. In companies over 300 employees elected-members of the employee assembly must be elected to the board of directors.
China has made all companies worker-controlled. I would show this article to anyone that claims otherwise. This is worker democracy.
China is still a dictatorship of the proletariat.
The bigger problem is what it doesn’t say, like about anything about the board of directors or shareholders. I don’t think it would help much unless they’re also familiar with Chinese labor law.