And Wang Licheng Dialogue- The Holley Group 8-year journey of reform of property rights.docVIP

 PAGE \* MERGEFORMAT 10 And Wang Licheng Dialogue: The Holley Group 8-year journey of reform of property rights Moderator HE Ji-jiang: Mr. Wang Licheng reason for being ‘wealth’ English as the year 2001, Chinese businessmen, and was named China’s top ten M amp;amp; A figures, the most important event is Holley NASDAQ listed companies and the acquisition of Philips R amp;amp; D CDMA department. However, last time I heard Wang always said, do you think Holley operation in the capital’s most proud of is the Holley’s property rights reform, can we talk about the Holley with a specific action in this regard. Proud of the operation of the capital - property rights reform Wang Licheng: Our true success is our success of the reforms within the property rights system. We had a big group, there was a period of time became a local state-owned, and later we turned back into a collective enterprise, and then turned into joint-stock enterprises, and then through the implementation of MBO to become a fully private enterprise, we have reformed from the earliest design of the transfer is completed in 2001, a total of spent eight years time. China’s restructuring is a very sensitive issue, on the one hand the legal and institutional, but more important aspect is that the system and ideas, often slightly improper operation will give you a devastating blow. From a public enterprise to a private joint-stock enterprises as part of the reform process were certainly the beneficiaries of the interests of some people suffer, it is a redistribution of benefits. In this process, if you can not balance and handling is good, the enterprise is very unfavorable. Zhejiang reform for some time relatively large companies are prepared to sell all of the operators, the relevant policy documents are introduced. Special government talked to me, should Holley sell me, but I said I do not want, Holley is a 30 years of industry experience, he does not fit immediately into the private sector, we