Huang Guangyu, the former richest man in China and founder of Gome Retail, has been released from prison on the 16th of this month. In a letter sent to the group on the 18th, he said he now has a deeper appreciation of the significance of corporate patriotism and love for the Party. Commentators believe this is another example of “enterprise following the party”.
The first Time Huang Guangyu spoke at a Gome executive meeting after he was formally released from parole, the official Gome Holding Group WeChat published the speech on February 18, in which Huang Guangyu repeatedly mentioned “the party”, saying: “The longer I run the business, the more profoundly I can understand Patriotism and love of the Party, law-abiding business, entrepreneurship and innovation, and the significance of giving back to society for the long-term development of enterprises …… Must stand at a higher starting point to adhere to the Party’s leadership and focus on running a good business.”
According to Chinese media reports, the former richest man in China, who once reigned supreme, was imprisoned in 2010, he was sentenced to 14 years in prison for illegal business, insider trading and bribery of a unit, and twice received a reduced sentence and was released on parole on June 24 last year, Huang Guangyu was officially released on February 16 this year when his test period expired.
Huang Guangyu this speech in the eyes of analysts, is undoubtedly the enterprise forced to “listen to the party, follow the party” another example. Wang Ruiqin, a former member of the Qinghai Provincial Committee of the Chinese People’s Political Consultative Conference and a private entrepreneur, told us that, especially after the Communist Party leader Xi Jinping came to power, Chinese private entrepreneurs are all on thin ice, and the only way to ensure stability and security is to follow the will of the Party; if they disobey the Party’s will and have any intention to speak out, they may face the fate of having their wives separated from their families, while saying “love the country and love the Party “Huang Guangyu, who says he loves the country and the party, is a model entrepreneur.
“Private enterprises must listen to the party and follow the party, honestly tell you to do what you do, if (follow the party) can not walk, these big old is your downfall.” Wang Ruiqin said.
She noted that private enterprises are intertwined with the economic market, plus a certain scale of enterprises have the ability to mobilize social organizations, so the Communist Party wants to hold corporate influence firmly in its hands, so it will arrange for enterprises to join various organizations controlled by the party to bring them under its management.
“If any entrepreneur or enterprise behavior poses a threat to the government, (the CCP) will absolutely use all means to immediately make the enterprise disappear and break the entrepreneur’s Family.” Wang Ruiqin told reporters.
The Chinese Communist Party‘s increasingly obvious methods of interfering with private enterprises have also caused anxiety in the West. At a seminar at the Center for Strategic and International Studies (CSIS), a U.S. think tank, Wendy Leutert, an associate professor at Indiana University, pointed out that the Chinese government has linked the Party’s leadership to corporate leadership positions, with the Party guiding changes to corporate bylaws to comply with Party requirements; the U.S.-China Economic and Security Review Commission (USCC Carolyn Bartholomew, president of the U.S.-China Economic and Security Review Commission (USCC), has also pointed out that private companies such as Alibaba have gradually lost their independence and have been forced to act in favor of the party because of heavy Communist interference.
Last March, Chinese property tycoon Ren Zhiqiang was sentenced to 18 years in prison six months later for corruption after he wrote an article criticizing the government’s handling of the new Epidemic and criticizing Xi Jinping as a “clown” and then disappeared. This led to the suspension of Ant Financial Group’s plan to go public and the launch of an anti-monopoly investigation by Chinese regulators. Xiang Songjo, a professor at Renmin University of China, also spoke out on behalf of private entrepreneurs in a speech in November 2019, directly criticizing China’s economic policies. He said, “The prevailing mentality among private entrepreneurs is that needing us is a helpless choice and eliminating us is a lofty ideal.”
According to Li Hengqing, an economist at the U.S. Institute for Information and Strategic Studies, the Communist Party’s basic idea is not to encourage the development of private enterprises, but to put enterprises and the economy in the hands of the Party by recruiting private entrepreneurs to the Party, controlling them with “Party rules” or sending Party branch secretaries to oversee corporate decisions so that they do not go against the Party’s interests.
“Private entrepreneurs say they love the party and the country, why? It is because of the need to survive, he did not express, not even the chance of survival.” Li Hengqing said.
Li Hengqing rhetorical question, sitting in jail for ten years may realize “love the party and love the country” reasoning? He believes that Huang Guangyu’s words are just a demonstration of “I’m convinced! Go with the Party!” because this is exactly what the CCP needs.
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