There is little doubt that Li Qin Fu is a successful entrepreneur. He is the Chairman of Shanghai Matsuoka, which manufactures low cost work wear and runs printing operations. The company is 42% invested by a Japanese company, Matusoka Corporation, and announced third quarter profits of RMB103 million, a 39% increase on the previous period.
Li won his stripes in the 1980s when he was given working capital amounting to just RMB500 $60 by the management of the state-run company he was working for.
Under the recently introduced contract system he took over the operations of one the SOE's plants under the condition that he would pay the parent company a fixed...
