Private entrepreneurs sparkle in political stage

Home>>Business

Last updated at: (Beijing Time) Wednesday, December 03, 2003

Private entrepreneurs sparkle in political stage

DISCUSSION

CHINESE

SEND TO FRIEND

China has seen more private entrepreneurs assume senior political positions in both central and local governments, which many experts cite as an unprecedented move in the history of the Party's leadership, China Daily reported Wednesday.

Xu Guanju, a private entrepreneur in east China's Zhejiang province owning 800 million yuan (97 million US dollars), was elected vice-chairman of the provincial people's political consultative conference in January.

Yin Mingshan, listed in "Fortune" magazine as one of the top 50millionaires in China, is chairman of the Chongqing-based Lifan Hongda Industrial Group and vice-chairman of the General Chamber of the Commerce of Chongqing Municipality.

Yin is also a member of the National Committee of the Chinese People's Political Consultative Conference (CPPCC), the country's top advisory body.

With the improved political status of private entrepreneurs anda constitutional amendment in the offing to provide stronger protection on private ownership, analysts say that China is transforming its favorable policies towards the private sector into concrete institutional guarantees.

The recent third plenary session of the Central Committee of the Communist Party of China (CPC) introduced the concept of property rights and pledged to formulate legislation protecting private property.

Zhang Houyi, a noted researcher at the Institute of Social Studies under the Chinese Academy of Social Sciences, acknowledgedthat the proposed amendment to the Constitution in the Party's documents would stipulate better protection for private properties,though details of the amendment remain unknown.

In a recent interview with the Washington Post, Premier Wen Jiabao also said enhancing legislation to protect private propertywill help accelerate his country's economic development and give greater incentive for people to set up their own businesses.

Questions?Comments? Click here

Chinese entrepreneurs: show us respect

Two Japanese diplomats killed in Iraq identified ( 3 Messages)

Developing corporate culture is key to global strategy ( 3 Messages)

16 percent of Chinese wives beaten by husband: survey ( 4 Messages)

China ceases diplomatic relations with Kiribati ( 6 Messages)

Hillary Clinton arrives in Baghdad hot on heels of Bush ( 5 Messages)