China's private economy sector plays more important role in world economy
2003-09-18 Xinhua
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 Beijing
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. |