Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：1  发布时间：2026-05-07

Due to the lack of legal protection and regulation, the operation of the "lifting association" relies solely on personal credit guarantees among villagers, which do not pose significant risks in normal times. However, when the economy grows rapidly and there is an imbalance between supply and demand of funds, unexpected events may occur. In 1986, as the domestic economy heated up, the thirst for funds suddenly increased, and conventional credit efficiency could not meet the growing demand for borrowing. Immediately, some people thought of high interest financing, first cautiously trying, and then boldly expanding. Soon, a new almost crazy money game opened.

At that time, the rules of the Wenzhou Association were as follows: a member who joined paid 11600 yuan, and starting from the second month, the association leader paid 9000 yuan to the member every month, for 12 consecutive months, totaling 108000 yuan; Starting from the 13th month, the member will pay an additional 3000 yuan to the owner for 88 consecutive months, totaling 264000 yuan. The owner will still pay 9000 yuan per month. Such a cycle of rolling, one session lasts for 100 months. A discerning person can understand at a glance that the biggest risk is in the first year, which will mainly turn 11600 yuan into 108000 yuan. Someone has calculated that in order to sustain a membership of 11600 yuan, 22 members must be developed by the sixth month, 691 members by the twelfth month, and 20883 members by the eighteenth month.