Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：16  发布时间：2025-09-03

This is the first targeted crackdown on a gang in a specific area since the previous year when we began to rectify the economic order. From the perspective of business scale, these eight people are all insignificant, with Hu Jinlin and Zheng Yuanzhong being the ones who have done the largest, with an annual turnover of only one million yuan. Liu Dayuan, Cheng Buqing, and others only opened a screw and miner's lamp store, while Ye Jianhua, Wang Maiqian, Li Fangping, and others only helped these people with product catalogs and second-hand electrical appliance reselling. The reason why these people are listed as major economic criminals and key targets of national crackdown is twofold: firstly, due to their specimen and collective nature, and secondly, because of Wenzhou. At that time, the number of individual industrial and commercial enterprises in Wenzhou had exceeded 100000, accounting for about 1/10 of the total number in the country, and the number of distributors traveling around reached 300000, which had become a "locust army" that caused headaches for state-owned enterprises in various regions. It is in this context that the high-profile handling of the "Eight Great Kings" has significant implications beyond economics.

In the following two years, the "Eight Great Kings Incident" remained like a dark cloud over Wenzhou and Zhejiang. The growth rate of Wenzhou's industry was 31.5% in 1980, but it declined to -1.7% in 1982 and remained stagnant for the following three years.