"My goal is to become the rabbit king in the world," said Wang Yumei, a deputy from east China's Shandong Province to the National People's Congress, China's top legislature.
Wang, 27, is, chairwomen of the Shandong Green Science and Technology Company, said that she intends to have her company listed on the growth enterprise board, or the second board, on the stock exchange by introducing the joint-stock system.
She began to engage in raising rabbit ten years ago. Her enterprise has grown from a simple rabbit farm into a modern enterprise group with rabbit farms, subsidiary companies and a research institute. Her company now has fixed assets worth 80 million yuan (US$9.67 million) and breeding rabbit farms in 148 counties across the country.
Yet she has encountered the problem of how to upgrade her company, a non-state-owned one.
She said, "Non-state-owned enterprises now face a clogged fund-raising channel. They do not have much access to market opportunities and family-based management makes it difficult for them to uplift their international managerial standards."
She noted, "I think the fundamental way out for non-state-owned enterprises lies in making innovations in system, instituting the shareholding system and introducing a modern enterprise system meeting the requirements of a market economy."
She began to experiment a modern enterprise system by establishing the Shandong Green Science and Technology Company with a Taiwan company in February. Subscription to the company's 30 million shares has been completed according to legal procedures.
Wang, known as the "rabbit raising king" in Shandong, said that she will enable her company to gradually institute a modern enterprise system suited to market economic development.
By getting her company listed on the stock exchange, the company will be able to expand its production scale and improve technological standards, she said.
(Xinhua 03/12/2001)
