Posts Tagged ‘Gongquan’

Chinese billionaire arrested for crossing red line of supporting human rights

October 22, 2013

(c) Bao Fan/ Imaginechina, file Venture capitalist Wang Gongquan is seen in a file photo from December 2009.





Eric Baculinao, NBC News Producer informs us that in a crackdown on dissent ahead of a Communist Party gathering next month, Chinese authorities on Sunday formally arrested a billionaire venture capitalist who has turned his wealth toward supporting human rights issues. The detention of Wang Gongquan, who was held on suspicion of disturbing public order, sends a strong signal that China’s new leadership will not tolerate any member of the rising entrepreneurial elite using their resources to agitate for democratic reform. Gongquan, 52, who made a fortune from real estate and investment management, is one of the first Chinese billionaires to cross a “red line” that forbids the ascendant entrepreneurial class from challenging the Communist party’s supremacy. Wang is known to be a supporter of the New Citizens Movement, a loose association of professionals and other urbanites advocating free speech and other rights enshrined in China’s constitution.  The group, which occasionally organizes dinners to discuss national issues, is also calling for greater government transparency and disclosure of officials’ assets. “I admire Wang Gongguan’s integrity and courage, but he might have crossed the ‘red line,’” said Hu Xingdou, referring to the unwritten rule that China’s rising business class should not engage in political activism.

via Chinese billionaire arrested for crossing red line of political activism – Behind The Wall.