Thirty Years of Turbulence - Chinese Enterprises

作者：admin  点击次数：4  发布时间：2026-05-26

Wu Renbao candidly admitted that during the "exaggeration trend" in 1958, he had falsely reported production. In the 1960s, Huaxi Village was a "red flag" of the "National Study Village", but at the same time, Wu Renbao began to secretly set up a small hardware factory in the village by mobilizing 20 people. At that time, we must not let the outside know that it was the time to cut off the tail of capitalism, "his son recalled." Red flags were fluttering in the fields, horns were ringing, and the inspection comrades had left. We turned around and entered the factory
Why venture into industry? Because farming cannot earn money. At that time, the whole village worked hard and the total agricultural output value was 240000 yuan. However, the small hardware factory, which was run by only 20 people, reached an output value of 240000 yuan three years later. Wu Renbao's actions naturally involve taking risks. He once served as the county party secretary of Jiangyin County and a member of the Jiangsu Provincial Party Committee, but was unexpectedly defeated in an election. He returned to his village and continued to serve as his village party secretary.
In 2005, Wu Renbao and his son appeared on the cover of Time magazine in the United States
In 1978, after the Cultural Revolution and on the eve of reform and opening up, Huaxi Village took stock of its assets, with a total of 10000 yuan in fixed assets, 1 million yuan in bank deposits, and three years of food. At that time, the price of a pack of cigarettes was 0.2 yuan, and the total industrial and agricultural output value of Jiangyin County was only a few hundred million yuan. At that time, all parts of the country were engaged in the reform of "distributing farmland to each household and contracting land". Wu Renbao refused to distribute the farmland in the village to individuals after a tour of inspection. He said that no matter how he divided the farmland and mobilized his enthusiasm according to the situation of Huaxi Village, he could not become rich. He decided to immediately establish a spray factory for pesticide. In 1984, this factory alone earned a net profit of 2 million yuan.