Special report | Private firms
Paper tiger, roaring dragon
It is the private sector, not state capitalism, that is responsible for modern China’s economic rise
IN 1984, ELEVEN researchers from the Chinese Academy of Sciences (CAS) gathered in a cramped guardhouse in the elite institution’s grounds. Liu Chuanzhi, their leader, had managed to find about $25,000 to start a technology company. They had little knowledge of business, but Mr Liu was determined to revive entrepreneurship in his country.
This article appeared in the Special report section of the print edition under the headline “Paper tiger, roaring dragon”
From the September 12th 2015 edition
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