Constitution to shield private business
1 September 2003
Changes to the constitution are being planned that may result in private businesses being given the same legal rights as state enterprises, said official media. The amendments, to be confirmed by the standing committee of the Communist Party's politburo in October, will include references to the 'Three Represents' theory championed by former president Jiang Zemin, the Financial Timesreported.
Academics close to the consultation process said that the changes could formalise the rights and laws under which private enterprises operate and hopefully help curb the corruption and influence-peddling that surrounds some of China's most successful entrepreneurs. The reference to Jiang's 'Three Represents' doctrine is significant since, although vague and opaque, it is intended to bridge the gap between communist theory and capitalist practice.