Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：4  发布时间：2026-02-25

Lei Yu was dismissed and later appointed as the deputy secretary of an agricultural county in Guangdong. Lin Taosen, member of the Standing Committee of the Political District Committee and Minister of Organization, was sentenced to life imprisonment for the crime of "speculation and profiteering" one year later. Many years have passed, and people can still see some high-end smuggling vehicles with "Yue" license plates on the roads north and south of the Yangtze River. They are all relics of the Hainan case back then.

In the history of China's reform and corporate history, the "Hainan Automobile Reselling Incident" has a strong "allegorical" character. In order to develop the economy, a region gradually failed to keep up with the needs of economic development due to many institutional deficiencies. The gradual characteristics of China's reform are becoming increasingly evident, and it has begun to enter a long gray area.

According to data disclosed by He Botuan in "China on the Mountain", China's imported cars in 1985 were equal to the total number of imported cars from 1950 to 1979. After the Hainan incident, the phenomenon of reselling and smuggling imported cars by taking advantage of policy loopholes has not been truly stopped, and its aftermath continued until the Xiamen Yuanhua Lai Changxing smuggling case in 2000. From 1983 to 1987, local governments used foreign exchange to import a large amount of cars, amounting to $16 billion, equivalent to the net fixed assets of two American Chrysler automobile companies at that time.