Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：23  发布时间：2025-10-26

Business invades every corner of urban and rural areas in China

Around 1983, the first batch of "fallen masters" in China appeared in Beijing and Shenzhen. The former is the center of policy resources and power money transactions, while the latter has a relaxed business atmosphere and a window effect of opening up to the outside world. At this time, Shenzhen had gradually shown its advantage of being a pioneer in reform. To the surprise of Ren Zhongyi, Yuan Geng, and others, this "window" did not attract huge foreign investment as designed. On the contrary, it became a "big base" for "selling the whole country and buying the whole country". Governments of some inland provinces set up trading companies here as a "window" to use Shenzhen's preferential policies for the resale and circulation of goods. Dr. Chen Wenhong from the Hong Kong Center for Asian Studies found in a study that the four development goals for Shenzhen proposed by Yuan Geng and others had gradually deviated by 1983: "products are mainly exported", with actual imports exceeding exports by 484 million US dollars; The introduction is mainly based on advanced technology, but the main equipment introduced is outdated and unused equipment from Hong Kong, China and Japan; Foreign investment is the main source of investment, but in reality, foreign investment only accounts for 30% of the total investment, and the vast majority is from Hong Kong; The structure is mainly based on industry. At that time, the total industrial production value of Shenzhen was 720 million yuan, while the total amount of social retail goods was 1.25 billion yuan. Doing business earned much more money than industry. In the work "The Sphinx Mystery of Shenzhen," which depicts the early rise of Shenzhen, it is recorded that "the enthusiasm for borrowing money to make a fortune was astonishingly high. I borrowed money and hung up signs to establish this and that company. The streets of Shenzhen were constantly bombarded with firecrackers every day, and uncontrollable loans were like wild horses that had exceeded Shenzhen's deposit balance by more than 2 billion yuan. As a result, I had to borrow funds from the central government and other provinces, cities, and autonomous regions