China’s dictator Xi Jinping said private companies should be “rich and loving”. This would benefit the citizens and bring prosperity to the populace. The Chinese leader’s comments were made this Monday, the 6th, during the annual session of Parliament, which brings together government advisers and business sector representatives.
Although the session was closed, the State CCTV Radio reported on Xi’s speeches, who also said private sector entrepreneurs must be “patriotic” and “actively participate in charitable enterprises.” “Be rich and responsible. Benefit others and be rich and loving,” he warned.
Xi placed the responsibility on businesspeople to share the fruits of their companies’ growth with their employees, calling it a “community of common interests.” The Chinese dictator had already proposed an initiative to narrow the wealth gap within the Asian country. Private companies are now awaiting Beijing’s explanation of how it intends to pursue socalled “shared prosperity.”
According to analysts, businesspeople fear Xi’s initiative will culminate in the introduction of a new tax as local governments scramble to boost tax revenues.