Its largest shareholder (55%) is the Shenzhen City SASAC (State-owned Assets Supervision and Administration Commission).

FORBES: BYD's Electric Taxis Hit Shenzhen's Streets

Southern Weekly reported the news, and suspected the SASAC (state-owned assets supervision and administration commission) policies for punishment and the central corporate nominating system were to blame.

FORBES: Weird Things That People Get Used To In China: Part 2

The agency that now regulates the state-owned firms, called the State-Owned Assets Supervision and Administration Commission, should "confine itself to policy-making and oversight, " the report recommended, not management.

WSJ: China Reform Suggestions Vague on Party Role

There is an oddity at the heart of today's historic agreement by the oversight body of the Basel Committee on Banking Supervision, which for the first time will impose new minimum requirements for the amount of cash and liquid assets that banks all over the world will have to hold.

BBC: Banks agree minimum liquidity rules