If anyone were to write about the craft of bribery on the mainland, self-made billionaire Wong Kwong-yu is probably the most qualified.
Through bribes, he got billions of yuan in loans to build his empire in the early 1990s, listed Gome Electrical Appliances Holding in Hong Kong in 2004, and acquired a rival in 2006 to make Gome the second-largest appliance chain in the country.
Using bribes, he averted a government probe into illegal loans and another investigation into tax evasion. But Wong, known on the mainland as Huang Guangyu, is now in jail and it will be some time before he can share his know-how with us.
Fortunately, the mainland's Century Weekly magazine has dug out the judgment of the Beijing court, which sentenced Wong to 14 years in prison for bribery and insider trading 11/2 weeks ago. Detailing part of his crimes, the 65-page document offers some tips about the craft of bribery.
First, go to the top or the officer in charge.
Among Wong's protectors were the Bank of China Beijing branch head who approved the loans; the Ministry of Commerce official who decided whether the listing of Gome was legal; the top antitrust official who ruled if Gome's acquisition was against consumer interest; the police officer who headed the probe into the illegal loan; and the state tax bureau auditor who led the tax-evasion probe against Gome. All were convicted by the court in separate cases, according to Xinhua, although details were not available.