发言原文
这些是在哪里找到的？In the first quarter of 2022 alone, Paul Hastings represented six Chinese local government SOEs in seven offshore credit-enhanced bond issuances totaling approximately US$780 million. The firm also represented central-government-controlled COSCO SHIPPING Holdings in its US$6.3 billion acquisition of Orient Overseas, advised China Bohai Bank on its US$1.77 billion H-share offering, provided compliance advice to Alibaba Group, represented a U.S. investor consortium in the January 2026 TikTok USDS Joint Venture, and had a documented prior business relationship with Pacific Alliance Group (PAG) — guiding its real estate unit in a US$671 million takeover bid for Spring REIT in 2018. Unlike Western capitalist societies, where private enterprises operate with genuine independence, mainland China maintains a massive public-ownership economy. Even in nominally private companies such as Alibaba Group and ByteDance (parent of TikTok), the Chinese Communist Party (CCP) exercises dominant control through embedded Party branches and “golden shares.” Chinese state-owned enterprises (SOEs) are directly controlled by the CCP, with senior executives and directors appointed and managed by Party organs.