clock menu more-arrow no yes

Filed under:


A provincial Chinese newspaper reports that 490 entrepreneurs have amassed more than a million yuan ($188,000) each in communist China - a sum it would take the average Chinese urban worker more than 800 years to earn.

The State Administration for Commerce and Industry checked 90,000 private enterprises created since the early 1980s, when China introduced economic reforms, according to an issue of the Hainan Special Zone News received in Beijing Tuesday.The paper said official audits and secret checks uncovered 490 individual entrepreneurs worth more than 1 million yuan.

China's leaders have publicly declared that "to get rich is glorious," but evidence of such startling disparities in income may be hard for a few Marxist hardliners to swallow.

An administration official in Beijing declined to confirm the newspaper's report.

"We don't tell that sort of information to outsiders," he said.