57-year-old Liang Wengen is tipped to become the first private entrepreneur to join the powerful Central Committee of the ruling Communist Party.
In winds of change, China's richest man is tipped to become the first private entrepreneur to join the powerful Central Committee of the ruling Communist Party.
57-year-old Liang Wengen, a construction tycoon who topped Forbes magazine of China's richest man this year with an estimated wealth of USD 9.3 billion, may be elevated to become an alternate member of the powerful central committee, Peoples' Daily reported.
The Chinese daily quoted by Singapore-based Lianhe Zaobao newspaper reported that the party had completed its evaluation of the billionaire who may be inducted into the committee at the annual conference in October next year.
Liang initially wouldn't have voting rights, but çan eb promoted to a full voting member if an existing member retires or dies. The gesture is seen as a pat to the Chinese industry and economy which in recent years has become world's second largest.
Most of the Chinese industry is still state-controlled and the gesture of elevating a private entrepreneur is seen as the reassurance to the sector.
The step is in line with the former president Jiang Zemin's announcement in 2001 that private businessmen would be welcomed to join the party.
Both Liang and Tang Xiuguo, president of Sany, said that the Organisation Department of the CPC Central Committee had completed the evaluation of Liang.
Liang founded Sany in 1987 and became a party member in 2004, shortly after his company became listed and his fortune grew massively. Liang would be the first person from the private sector to enter the party for the first time since its founding in 1921.
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