Chinese female tycoon triggers controversy with pro-rich proposals

BEIJING—Zhang Yin, the “empress of paper” once ranked as China’s richest woman, has set off heated debate at the annual full session of the national political advisory body with three “pro-rich” proposals.
Some members of the 11th National Committee of the Chinese People’s Political Consultative Conference (CPPCC), the top political advisory body, have criticized what they call her biased proposals at the session, which runs from March 3-14. One of the proposals from Zhang, who is also a CPPCC National Committee member, is to amend the Labor Contract Law, which was put into effect on Jan. 1 this year, to exempt labor-intensive companies from signing permanent contracts with staff having more than 10 years’ service.
Her second idea is for the personal income tax rate on those earning more than 100,000 yuan (about 14,000 U.S. dollars) a month to be cut from 45 percent to 30 percent. And third, she suggested that the government lift the duty levied on imported environmental remediation facilities for five to seven years.
“She is speaking for herself and people like her,” said Shi Dingguo, a political advisor and former deputy head of the school of humanities of the Beijing Language and Culture University. “She is rich, running a labor-intensive, polluting business that needs to import environmental remediation facilities,” Shi said.
Zhang, 51, is the founder and board chairwoman of one of the world’s biggest paper makers, Nine Dragons Paper Industries. She was named by the annual Hurun Report as China’s richest woman in 2006, with a fortune estimated at 27 billion yuan. “She should not do this,” Shi said. “Being a CPPCC National Committee member, she should speak not only for herself but also for the public.”
However, Zhang Yichen, another advisor and chief executive officer of the CITIC Capital, said it was understandable that a CPPCC National Committee member would raise proposals on familiar topics. “Of course, it’s a question whether she speaks for herself for the whole industry,” he said. CPPCC member Jing Tiankui agreed that a political advisor should bear a stronger sense of social responsibility. But Jing also noted that it was good for Zhang to step up, speak out and get feedback. “It means the session is opener and more tolerant.” Ge Jianping, an advisor from the business circle, said that he agreed with Zhang on an amendment to the Labor Contract Law. “Companies do feel pressure after the law was put into force.  —Xinhua