“Black Collars” China's 10 Most Powerful Business People

In Chinese they are called the "Black Collars"—a group of elite business people who control large parts of the Chinese economy.

Britain’s Daily Mail recently published a list of ten "Black Collars," citing research by the Brookings Institute, specialist China publications and the Sunday Times.

The list includes the former head of the Commercial Aircraft Corporation of China and now appointed governor of Hebei Province, Zhang Qingwei.

Also Wang Jianzhou, chairman of China Mobile, the world’s biggest mobile phone network, with 650 million users. Critics say the company makes much of its profit through charges that would be illegal in other countries.

And Zhang Guoqing, the general manager of China North Industries Group—China’s largest arms maker. The company has been subject to sanctions for suspected missile sales to Iran and weapons sales to Libya’s Colonel Gaddafi.

What these "Black Collars" have in common is that they all hold high positions in the business world and in the Chinese Communist Party. Many are provincial governors as well as executives in China’s often state-owned businesses.

[Caoan Jushi, Economic and Political Commentator]:
"When they have a CCP official background, they will acquire more fortune during business transactions. Then, they use the obtained fortune to impact the execution of policies. They are officials and businessmen."

Economist Qi Yanchen says that China’s un-democratic political system has led to this narrow concentration of power and wealth.

[Qi Yanchen, Economist]:
"From a technical level, China's politics are definitely not electoral politics. It is appointed politics. Central government leaders share power with those who they will benefit from."

Some of these "Black Collars," such as Chen Yuan, descend from hardliners within the regime. Chen’s father was one of the high level figures who urged the 1989 Tiananmen Square crackdown. Chen is set to have an influence on China’s next generation of leaders.