Wang Yang

Party chief encourages 'rich second generation'

PUBLISHED : Friday, 23 March, 2012, 12:00am
UPDATED : Friday, 23 March, 2012, 12:00am


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Guangdong Communist Party secretary Wang Yang has written a 1,000-word letter giving encouragement to the 'the rich second generation' in the province by calling them 'creative successors'.

In his letter, Wang praises the economic contributions made by the province's private enterprises since the mainland embarked on economic reform and opened up to the outside world in the late 1970s.

'It's a rule that keeping is harder than winning ... whether the business achievements created by the old generation of entrepreneurs can continue to flourish largely depends on their successors, who are going to be innovative and make a difference,' Wang wrote in the letter, published by the Guangzhou-based Private Economic Times on Monday. 'The good news is that many of the new generation of private entrepreneurs in our province are unwilling to enjoy a comfortable living but keen on continuing innovation based on their parents' achievements.'

Wang's letter is seen as a reply to an open letter released on Sunday by a group of young Guangdong entrepreneurs who called themselves the 'creative second generation'. They called on Wang to establish a comprehensive legal system to support the province's private enterprises.

The young entrepreneurs also asked Wang to help them rectify their image. The mainland public has labelled them 'the rich second generation' but they insisted that they were not spoiled rich kids being supported by their parents, but a group of capable and responsible young entrepreneurs dedicated to contributing to society. Wang described them as 'creative successors' and said that supporting the development of private enterprises and letting them become a key pillar of Guangdong's economic transition and upgrading would be an important mission for the provincial government.

Professor Yuan Weishi, a political commentator at Guangzhou's Sun Yat-sen University, said Wang's comments showed he was an open-minded party leader.

'I think what he said in his letter comes from the bottom of his heart because Wang has long noted that private enterprises, not state companies, have played a key role in the past three decades of Guangdong's economic reform - that is quite different from party heads in other provinces.'