[March 8, 2023](Comprehensive report by Epoch Times reporter Lin Yan)Xi JinpingSpeaking at the Two Sessions of the Communist Party of China, he said that he has always supported private enterprises and always regarded private entrepreneurs as his own.American scholars said that if they really support private enterprises, they will punish private entrepreneurs who have been sentenced to 18 years in prisonSun DawuLet him go and reverse the case for him.
Xu Chenggang, a senior researcher at Stanford University’s China Center for Economic and Institutional Research, said in an interview with Voice of America, “A few more examples like this, and you need to do more practical things to tell people that you really support private enterprises.”
let goSun DawuOnly then can we prove that we really support private enterprises
In the past few years, the CCP authorities have launched a large-scale suppression of the private economy in the name of supervision. Industries ranging from technology, finance, games, education and training to real estate have been hit hard. However, after the zero-clearing policy led to a severe economic recession in China,Xi JinpingIt also extended an olive branch to private enterprises.
Faced with the phenomenon of “burning sesame seed cakes” in the CCP’s economic policy, Xu Chenggang responded that if Xi Jinping sincerely supportsChinese private enterprises, very simply, “do something practical and give them safety”. For example, Sun Dawu, a private entrepreneur who was sentenced to 18 years in prison, was released and his case was overturned.
2021,Chinese entrepreneurSun Dawu was sentenced to 18 years in the first trial by the People’s Court of Gaobeidian City, Hebei Province. He was involved in eight charges including the crime of gathering crowds to attack state organs.
Sun Dawu has always been regarded as an outspoken entrepreneur by the outside world. He once published articles mourning liberal intellectuals on the company’s website, and spoke out for lawyers when China mass-arrested human rights lawyers in 2015. In 2003, he was sentenced to 3 years in prison and suspended for 4 years for the crime of illegally absorbing public deposits.
The lawyers for the Sun Dawu case issued a statement stating that “this is not a normal legal trial” and “please pay attention to the living and development environment of Chinese private enterprises and the state of human rights and the rule of law in China.”
Xu Chenggang told VOA: “Entrepreneurs today are generally panicked and very scared, because they have no sense of security, property security, and even personal security. The actual situation now is far from what Xi Jinping said. He said That statement contradicts what he did.”
Xu Chenggang said that Beijing’s large-scale crackdown on private enterprises in recent years has already determined that China’s economic growth will be suppressed, because China’s real economic growth depends entirely on private enterprises. On the other hand, state-owned enterprises have institutional problems that cannot be solved. It is impossible for the CCP to support state-owned enterprises by cracking down on private enterprises.
He analyzed that since the enterprise is state-owned, it will not go bankrupt when it is insolvent, while private enterprises are left alone. The problem derived from this is that state-owned enterprises have borrowed money everywhere, which has pushed up the high leverage ratio of the entire economy and made China’s financial system very dangerous.
Before Xi Jinping suppressed the private economy, but now he said that he has always supported private enterprises. Xu Chenggang said that Xi Jinping faced a very severe test and found that the economy had serious problems. He spoke in a panic to support private enterprises.
“But what he said is useless. In fact, what he said contradicts what he has done.” Xu Chenggang said.
At the end of 2020, the CCP began to suppress private enterprises. First, Ma Yun disappeared, and then the authorities successively attacked real estate, games, online education, online car-hailing services and other fields. That has venture capitalists putting the brakes on China and pouring money into other emerging markets.
Recently, Chinese tech investment tycoonsBao Fandisappeared. His company released a brief “insider tip” that he was cooperating with an investigation by Chinese authorities.
Bloomberg interviewed a dozen peopleChinese entrepreneurventure capitalists and analysts found that they were generally concerned about the CCP’s attitude towards private companies, and despite seemingly reassuring comments from the CCP leadership following the end of its three-year zero-zero policy, they remained concerned about Beijing’s pro-market sentiment. The position cannot last long.
The report said that this “creepy disappearance may have a greater psychological impact on Chinese entrepreneurs than all the encouraging words from state media.”
“It’s a reign of fear: there’s a sense that Beijing can come after you at any time,” said Alicia Garcia-Herrero, chief Asia-Pacific economist at Natixis. , “Of course, this will make the private sector more cautious.”
Responsible Editor: Ye Ziwei#