Sunday, March 4, 2012

China needs to reform

China Billionaire Says Private Sector Needs Bigger Role

Zong Qinghou, China’s second-richest man, called on the government to increase the role of private business in the economy and said the nation’s prospective next president agrees.
The 66-year-old self-made billionaire who is chairman ofHangzhou Wahaha Group Co (HWGZ). and a member of China’s legislature, said the nation should cut taxes and allow private investment in more industries. When Vice President Xi Jinping “comes to power,” he will encourage the development of private enterprise, Zong said in a March 3 interview.
Comment: Does China's leadership have the strength to reform the country which would meet giving up their privilege and power? I doubt it.

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