Meet China’s new tycoons

The Economist LogoThe Economist1w ago

Meet China’s new tycoons

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Mr Zheng, who built Jala without state help (or even a party membership), has started collaborating with a district government in Shanghai.

His firm has become an important part of a cosmetics development park called “Oriental Beauty Valley”, where local brands have been encouraged to set up labs and hire scientists.

Last year the local government conducted a sweeping review of the holdings of 25,000 officials and their family members in Hangzhou, another big tech hub and home of Alibaba.

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Article Details

Category: EconomyFinance

Topics: State China’s Party Years Private Firm Firms Been Companies Government Local

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-08-05, 17:57:24

News Timezone: GMT -5:00

News Source URL:

Language: English

Reading Time: 11 minutes read

Article Length: 1968 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 115538

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About The Economist

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Year Established: 1843

Headquarters: United States

News Last Updated: 1d ago

Coverage Areas: United States

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Publication Timezone: GMT -5:00

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Publisher ID: #36

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