Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：67  发布时间：2025-12-04

Bu Xinsheng was sent to Zhejiang University to study enterprise management, and the province also waived all taxes on the factory. At this moment, Bu Xinsheng, whose pace was already chaotic, showed no sense of organization. While the project of the suit factory was still ongoing, he suddenly proposed to build a denim fabric factory. The cost of each set of clothing for external processing was over seven yuan, but he only charged a processing fee of over three yuan. He heard that X-ray photocopying was very popular, so he set up another photocopying company, but the results were completely ineffective. At the end of the mountain and water, he came up with another trick, claiming that the residents of Wuyuan Town who paid 1000 yuan could enter the factory as workers. He managed to raise a considerable amount of money, but the suits produced had poor sales, so he had to sell them at a discounted price on the spot. As a result, the town's "tea drinking father, fisherman, and pig butcher" all wore Bu's suits. By November 1987, Haiyan Shirt Factory had a debt of 10.1448 million yuan and a loss of 2.6884 million yuan, while the total assets of this factory were only 10.0703 million yuan. Unable to repay debts, actually bankrupt. In January 1988, a survey team in Zhejiang Province conducted a public opinion poll among employees, and 96% of them believed that Bu Xinsheng was not competent. On January 15th, he was dismissed from his position as factory director.