Opinion | China needs a rules-based business environment so entrepreneurs can thrive
Hu Shuli says government-business collusion has sapped the private sector of its verve, and this must change by insisting on the rule of law
A new wave of enthusiasm for entrepreneurship has hit China. Over the years, corruption has undeniably dented our economy, as can be seen in the dirty deals uncovered by the anti-graft campaign now taking the country by storm.
This much is clear: to nurture a new generation of entrepreneurs, we need a society based firmly on the rule of law.
Early this month, President Xi Jinping told senior officials attending a Central Party School workshop on the rule of law to set a good example by respecting the constitution themselves. All are equal before the law, he said, and leading party members must never breach the legal boundaries.
These words go to the crux of upholding the spirit of the law.
The rise of social media, the popularity of mobile devices and advances in technology such as big data have enticed many Chinese to think up and experiment with innovative business models.
According to the State Administration of Trade and Industry, in 2014, some 2.91 million people individually or jointly registered a business. Unlike in previous waves of private-sector enthusiasm, those spearheading this one appears ready to shake up the production chain and rewrite the rules.
