With increasing numbers of Chinese people opening their own
businesses, the expanding private economy sector is not only deeply
influencing the Chinese society, but gradually changing the
economic landscape of the world.
This view was expressed by Russell Flannery, associate editor of
Forbes Global (Asia) at the three-day 2003 Forbes Global
CEO Conference which concluded in Shanghai Thursday.
Just before the conference, Shanghai was selected by
Forbes magazine as the world's best potential
entrepreneurs' city. Steve Forbes, president, CEO and editor in
chief of Forbes, said more entrepreneurs are emerging in
China, especially in Shanghai, where the spirit of entrepreneurship
penetrated city life.
Statistics show that in 1989, China had 90,581 private
enterprises with 1.64 million working staff and 8.4 billion yuan of
registered capital. In 2002, the number had surged to 2.43 million
with 34.09 million working staff and 2,470 billion registered
capital.
Chen Jinhua, director of the China Entrepreneurs Association,
said Chinese private enterprises have now ushered a golden time for
development.
Liu Yongxing, board chairman of the Oriental Hope Group, who
attended the 2003 Forbes Global CEO Conference, said Chinese
private enterprises are sparing no efforts to improve efficiency of
capital and talent use.
Guo Guangchang, board chairman of Shanghai Fuxing High
Technology Co., Ltd., noted that the investment channels of China's
private enterprises should be further diversified and the quality
of their leadership teams should be improved.
He believed that with the vigorous development of China's
private enterprises, the cooperation between Chinese private
enterprises and overseas companies will be enhanced.
In fact, the social status of private entrepreneurs has greatly
improved in China.
Not long ago, Qiao Zhigang, 35, board chairman of Shanghai Fudan
Jinshida Computer Co., Ltd., was appointed director of Shanghai
Information Committee.
Moreover, in the "2002 China's most respected enterprises" list
compiled by Peking University and China's leading economic
newspaper The Economic Observer, the Broad Air Conditioner
Co., Ltd., was the sole domestic private company featured.
The ranking also listed a batch of well-known home and overseas
enterprises, including Ericsson, Wal-mart, IBM and Industrial and
Commercial Bank of China.
Analysts believe that Chinese enterprises, after experiencing
life-or-death tests, will be able to contribute more to society in
the form of tax.
Increasing numbers of Chinese entrepreneurs are calling for a
more relaxed social environment for private companies to survive
and develop.
Charles Zhang, board chairman of China's leading website
Sohu.com.cn, believes that the social contribution made by private
enterprises has still not been fully recognized by Chinese society.
Some social phenomena like "hating the rich" or "robbing the rich
to feed the poor" still exist in China, which needs to change.
(Xinhua News Agency September 19, 2003)