From Chinese Press

Business world far from clean

(China Daily)
Updated: 2010-05-21 07:52

The crimes for which former retail tycoon Huang Guangyu was given a 14-year sentence reveal just the tip of the entrepreneur-official nexus in the domestic world of business and corporate bribery, says an article in Zhengzhou Evening News. Excerpts:

The sentencing of former Gome chief Huang Guangyu doesn't mean that the nexus between business people and officials has been eradicated. Nor does it mean that the rule of law will now prevail in the world of business.

We should realize how rare a case like Huang's is. It would have been a lot more difficult to pin charges on him had he not been addicted to gambling, didn't exchange HK dollars illegally and had stronger political support. That's why we cannot expect his sentence to restore order in the world of business.

The real criminals have not been purged from the domestic world of business. To know why, we need to go deeper to check what exactly is wrong with our market system. And it makes more sense to cleanse the system thoroughly than to attribute the crimes to business leaders who have to operate in and with the system.

 

(China Daily 05/21/2010 page9)