所属栏目:公司金融/公司治理

Corporate Governance, Chinese Characteristics: Huawei, Alibaba, Bytedance, DeepSeek
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发布日期:2025年10月31日 上次修订日期:2025年10月31日

摘要

China's tech companies are making waves with their recent achievements, including a "trifold" phone from Huawei and the revolutionary AI reasoning model from DeepSeek. Much discussion has centered on the founders of these companies and their ability to gain an edge on American rivals. But what is less appreciated or understood among foreign analysts of China’s tech giants is the role that innovation and transformation in corporate governance and organizational structure has played in these companies’ successes. Moreover, there are unique aspects of these companies from a corporate governance perspective that are not commonly seen in tech companies in other parts of the world or even within China itself. For instance, Huawei is 99% employee owned, while Alibaba is primarily governed by an "Alibaba Partnership." These unique corporate structures have arisen due to several factors, including the rapid changes to China’s regulatory landscape over the past three decades, distinct characteristics of Chinese business culture, geopolitical tensions and preoccupations with national security, and the “socialism with Chinese characteristics” model. In this article I overview some of the more distinctive corporate governance mechanisms of four Chinese tech companies: Huawei, Alibaba, Bytedance, and DeepSeek, and explain why these structures were adopted.
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Justin Ko Corporate Governance, Chinese Characteristics: Huawei, Alibaba, Bytedance, DeepSeek (2025年10月31日) https://www.cfrn.com.cn/lw/16438.html

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