Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：7  发布时间：2026-02-05

To his surprise, as soon as the floodgate opened, the situation quickly became uncontrollable. In 1984, Hainan was a remote area where officials and poor people lived in poverty. At that time, the island's fiscal revenue was only 285.6 million yuan. In Lei Yu's words, "even salaries were not enough. At that time, when communes were transformed into townships and towns, signs had to be hung, and some communes didn't even have the money to hang signs. They didn't even have the money to recruit soldiers, write slogans, and buy propaganda paper. This is true." Nowadays, obtaining a permit and reselling a car can earn tens of thousands of yuan, which is undoubtedly like digging a big oil well in front of Hainanese people's homes. ① For a moment, the whole island fell into a frenzy, with everyone vying for approval documents and reselling cars. Even Lei Yu reluctantly admitted in the future, "Even the kindergarten came to get car approval documents because they can be turned into money. They went to other provinces to sell approval documents. If there are no approval documents in other provinces, Hainan Island can have approval documents. If they transfer these approval documents to others, wouldn't it make money

That summer, almost everyone in Hainan Island was talking about cars. Wherever you go to a teahouse, restaurant, hotel, shop, government office, factory, school, newspaper, or even kindergarten or daycare center, the word that makes you dizzy and confused is' car '. A later reportage described a detail: "That morning, an aunt who was sweeping the floor and pouring tea in the office, held her fingers and calculated for Uncle who was receiving mail and newspapers at the door. Importing a 12 seater Japanese van cost only four to five thousand US dollars, and importing a Japanese super luxury imperial crown cost only 5700 US dollars. Calculated at a price ratio of 1:2.8 between US dollars and Chinese yuan, even with tariffs, there was still an astonishing profit of 100% or even 200%. The more they calculated, the happier they became because they had just obtained an import car license