Power, wealth can create a toxic brew in China

08:14, September 14, 2010      

Email | Print | Subscribe | Comments | Forum 

China's "red clans," which include some political figures, are now among the super rich in China, according to the most recent issue of China Comment, a Xinhua News Agency periodical.

The article warned against alliances between political and business leaders.

"The red clans are in possession of abundant political resources and easy to obtain business opportunities and priorities," the article said, adding that they are mainly engaged in basic industries, such as energy and trade that require government sanctions.

"The real estate industry is one of the favorites for red clans," it said.

The magazine identified two other groups as part of China's super rich - ordinary workers who obtain a fortune from nothing and businessmen administrating State-owned enterprises that offer stocks.

The most typical examples for the former are entrepreneurs in South China's Zhejiang and Guangdong provinces, who without any identifiable social status, secure top spots in the fierce marketplace.

A commentary on Xinhuanet.com noted that the latter group also benefit from their close ties to officials.

"When a country's political and economic decisions are made by some privileged clans, it's political and economic policies are futile, reform will yield nothing and the whole society will face more tension," Pan Bisheng, a researcher at the Jiangsu Academy of Social Sciences, told People's Tribune, a biweekly magazine by People's Daily.

According to an Internet survey done by the magazine in March, over 86 percent of 4,975 Internet responders believe that it is important to separate politics from business and those alliances are the biggest concern for the public.

By Peng Pu, Global Times
【1】 【2】


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • Demonstrators from the Occupy Wall Street campaign hold placards as they march in the financial district of New York September 29, 2011. After hundreds of protesters were denied access to some areas outside the New York Stock Exchange on September 17, demonstrators set up a rag-tag camp three blocks away. Zuccotti Park is a campground festooned with placards and anti-Wall Street slogans. The group is adding complaints of excessive police force against protesters and police treatment of ethnic minorities and Muslims to its grievances list, which includes bank bailouts, foreclosures and high unemployment. (Xinhua/Reuters Photo)
  • The romantic myth of the Aegean 
The Aegean Sea is between the Greece Peninsula and Asia Minor Peninsula, dotted with many beautiful scenery islands, like a paradise on earth.  The ancient city of Troy in the east coast of Aegean, Turkey, and Mycenaean sites in the west bank of Greece, which have been archaeological discoveries, now are the must visit places in journey of the Aegean Sea. Above, these desolate dilapidated stone, the sunny blue sky and white clouds and vessels roaming at sea, arriving and departing travellers, add more romantic to the sea and the islands.
  • Chinese Permanent Representative to the United Nations Li Baodong (R) welcomes UN Secretary-General Ban Ki-moon in New York, the United States. Sept. 29, 2011. The Chinese permanent delegation to the UN held a reception on Thursday to celebrate the 62nd anniversary of the founding of the People's Republic of China and the 40th anniversary of China's returning to the UN. (Xinhua/Shen Hong)
  • Chinese ambassador to Bulgaria Guo Yezhou delivers a speech during the reception in Sofia, capital of Bulgaria, on Sept. 29, 2011. The Chinese Embassy in Bulgaria held a grand reception here on Thursday to celebrate the 62nd anniversary of the founding of the People's Republic of China. (Xinhua/Wang Meng)
  • A model presents creation by Mexican designer at Mexico Fashion Week, Mexico City, Sept. 29, 2011. (Xinhua/AFP Photo)
Hot Forum Discussion