--- SEARCH ---
WEATHER
CHINA
INTERNATIONAL
BUSINESS
CULTURE
GOVERNMENT
SCI-TECH
ENVIRONMENT
LIFE
PEOPLE
TRAVEL
WEEKLY REVIEW
Learning Chinese
Learn to Cook Chinese Dishes
Exchange Rates
Hotel Service


Hot Links
China Development Gateway
Chinese Embassies

More Gain Than Pain for Private Business
People's spokespersons and political advisers are meeting from March 3 to 15 in Beijing to discuss national affairs. Lu Guanqiu, chairman of the Wanxiang Group in East China's Zhejiang Province, was named by the Forbes magazine as China's seventh-richest entrepreneur last year. He owns a township auto parts group and is worth an estimated US$480 million. It acquired the ailing NASDAQ-listed Universal Automotive Industries for US$2.8 million. Staff reporter Xie Ye interviewed Lu, who is also a deputy to the Fifth Session of the Ninth National People's Congress.

Q: What has the impact of China's entry into the World Trade Organization had on non-State-owned companies such as Wanxiang?

A: I think WTO entry can bring us more benefits than pain. It gives us more opportunities to co-operate with foreign giants, from whom we could learn about technology and management. Actually, we are talking with General Motors, Ford and other foreign giants on setting up an auto-parts joint venture worth US$100 million in China.

Also, it provides us with access to the big overseas market to export our products. Private companies are more market-orientated, so they adapted earlier to international competition.

Q: What do you think of the role the non-State-owned companies play in the development of China's economy?

A: Private enterprises have boosted China's economy and created lots of jobs. Take myself as an example. I was a farmer before five other villagers and I opened a small workshop to repair bicycles in the 1960s. Now I am chairman of the Wanxiang Group, which has a total assets of 10 billion yuan (US$1.2 billion) and employs 12,000 people.

The government has also supported the development of non-State enterprises and encouraged investment by private companies. Our group is among the 120 key State and non-State enterprises that benefit from favourable government policies.

Q: As a township entrepreneur, do you have any chance or channel to express your opinions?

A: The government is willing to hear our opinions. We have our own organizations, such as the All-China Federation of Industry and Commerce, to protect our interests. I have also been a deputy to the National People's Congress since 1998. It is another channel for me to present my suggestions and opinions freely. I believe more entrepreneurs from townships and private enterprises will join the next National People's Congress to voice their opinions.

Q: Do you think there will be any changes in the government's support for private enterprises, including after future leadership changes?

A: I do not think there will be any changes. It is like an arrow that has been shot. It can never return. If a policy wins the people's support, the policy will remain. I am confident about this matter.

(People's Daily March 9, 2002)

Print This Page
|
Email This Page
About Us SiteMap Feedback
Copyright © China Internet Information Center. All Rights Reserved
E-mail: webmaster@china.org.cn Tel: 86-10-68326688