Private companies are coming under scrutiny - Rupert Hoogewerf

Rupert Hoogewerf

China campaign against corruption is no longer limited to state-owned companies and organizations, but increasingly turns against private companies too. A logical development, tells China rich list founder Rupert Hoogewerf in the Financial Times in an article about Fosun founder Guo Guangchang.

The Financial Times:

Though Guo has now reappeared and no charges have been made against him, the worry for China’s entrepreneurial billionaires remains the same: that the once sweet relationship between them and the party is starting to sour. 

“Everyone is aware that you are subservient to the government,” said Rupert Hoogewerf, chief researcher at Hurun. 

According to Hoogewerf, Guo’s disappearance has yet to scare all private businessmen into looking over their shoulders for Wang Qishan’s inspection teams. He notes, however, that business success and political exposure are closely linked. “There comes a point when you become part of the establishment,” he says.

More in the Financial Times.

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