Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：18  发布时间：2025-07-18

▲ Sketch of Chen Chunxian, pioneer of Zhongguancun

Chen Chunxian's move caused quite a stir within the Chinese Academy of Sciences, but in society at large, it was an unremarkable event. No media reported on it, and Chen Chunxian had no idea how far he could go. This middle-aged man, who was the most active thinker in the Chinese Academy of Sciences, completely gave up his career as a scientist. He embarked on a mediocre and bumpy entrepreneurial journey. In the future, he would be busy with business all day long, and he was even kidnapped twice due to debt disputes. He was a frustrated company operator.

However, it was this Chen Chunxian who, with his own efforts, leveraged China's high-tech industry. The business principles he established for the service department later became the common rules for the establishment of private high-tech companies in China, namely: scientific and technological personnel should step out of research institutes, follow the laws of technology transformation and market economy, not rely on state funding, not occupy state positions, raise funds independently, be responsible for their own profits and losses, operate independently, and make independent decisions according to law. Behind his being suspected, insulted, and ridiculed, one technology company after another was born in Zhongguancun. Three years later, without any state investment, Zhongguancun became China's most famous "electronics street". By 1992, there were 5,180 private technology companies here.